Solvent but illiquid estate

Keep_pedalling

TW1234 wrote: »

Thanks to both.
Yorkshireman is correct.
It looks as though a new will may be advisable, as the scenario was based on the outcome that would currently arise from one made before IHT nil rates exemptions were transferable and when the estate assets were allocated differently.

If the testator is still,alive and has the mental capacity, then yes get a new will drawn up with the help of a professional would be the way to go, the current will does not seem well thought out at all.

getmore4less

Keep_pedalling wrote: »

If the testator is still,alive and has the mental capacity, then yes get a new will drawn up with the help of a professional would be the way to go, the current will does not seem well thought out at all.

Standard way to use the nil rate band in full before the transferable option became available.

Keep_pedalling

getmore4less wrote: »

Standard way to use the nil rate band in full before the transferable option became available.

True, but without the liquid assets to support it not that practical.

TW1234

getmore4less wrote: »

Standard way to use the nil rate band in full before the transferable option became available.

And also still beneficial should future government withdraw this option.