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Parental home proceeds to children via surviving parent
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Surely if Louise left everything to her God daughter then that is not a direct descendant, so residential NRB would not apply?Keep_pedalling said:
Louise dies 2 years later and the total value of her estate is valued at £600k which is all left her God daughter. Her estate’s exemptions are her NRB, her residential NRB, the transferable residential NRB from Thelma’s estate and the unused portion of Thelma’s NRB (£125k) total value £800k so no IHT payable.
Or am I missing something?3
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