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Posts Tagged: inheritance

Stretching the Nil Rate Band?

Posted by on February 2nd 2015 in Blog Posts, Contentious Probate

This recent case involved a dispute between the family of the late Valerie Smith and a charity, the Woodland Trust.

What’s the background?

The current inheritance tax threshold (‘Nil Rate Band’) is £325,000. This amount is available to the estate of each individual, free of tax, in England and Wales on their death.

In order to protect against payment of inheritance tax, many people choose to leave a gift in their Will, which is equal to the value of the Nil Rate Band, with the balance being left to charity.

When someone dies leaving the whole of their estate to their surviving spouse or...

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