Something called a nil rate fund - what to do?

getmore4less

simonineaston wrote: »

Thanks for suggesting I might be thinking about nil rate band, MG, but I'm clear about the concept of the nil rate band and the implications for iht under the circumstances of my parents' wills.
My question relates to a different idea and so to help, I've quoted exacty from the relevant section of my parents' will, which as mirror wills are identical in all but the relevant named parties.
from the wills: Section 4 - Definitions
clause 4.1.1 "The Nile Rate Sum" means the maximum amount of cash which I can give on the terms of the Nil Rate Fund...
There are other mentions of the phrase nil rate fund throughout the wills however, I don't think it'll help to quote them all.
Hope that's clearer, folks!

Could be very relevant as they should describe the type of trust and the beneficiaries.

simonineaston

Appointments with IFA and a chum who works for HMRC duly arranged! :-)