Metro: Children who are not formally adopted are unfairly missing out on Inheritance


Niamh Minihane, Partner in our Inheritance Protection team’s comments were quoted prominently in the Metro newspaper discussing inheritance rights and the basics of the Residence Nil Rate Band.

Niamh says: ‘With the Residence Nil Rate Band, each individual has an allowance regarding inheritance tax and it’s called a Nil Rate Band.

‘Currently, the value is £325,000 – but if you have a property or if you’ve owned a property, and in your will you leave your estate to your direct descendant, then you may claim an additional threshold before inheritance tax of £175,000, bringing the total allowance to £500,000.

‘This is known as the Residence Nil Rate Band. You do need to meet other certain criteria to claim this extra allowance.

‘However, the Residence Nil Rate Band – although includes step-children or foster children – it excludes people who haven’t got children but want to leave it to nieces and nephews or persons who they view as a child.’

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