Henrietta Mason & Paola Fudakowska provide a wills & probate update
In drafting the will, the solicitor included a clause establishing a nil rate band discretionary trust which she had adopted wholesale from the firm’s precedent library. However, she overlooked the fact that, whereas a nil rate band discretionary trust was usually used in conjunction with gifting to an exempt beneficiary, in this case there was no spouse and a number of chargeable legacies in the remainder of the will eroded the nil