Residential Nil Rate Band – Planning Actions for Estates Worth Less Than £325,000 (unmarried) or £650,000 (married couple)

The introduction of the new Residential Nil Rate Band is unlikely to effect people in this bracket, so long as the estate is forecast to remain below these limits (which have now been frozen again until at least 2021) for the foreseeable future.

For those who are expecting their estate to increase over and above these limits, additional planning may be required. We would suggest that you attend one of our free estate planning seminars to learn more about the Residential Nil Rate Band and how to avoid some common mistakes.

As a matter of course, it is good practice to review your will every 5 years or so to ensure that it fully reflects your wishes and remains up to date with current legislation.

People in this category may still wish to consider the use of trusts to protect their family assets, despite the absence of large tax advantages.