C: TRANSFERABLE NIL RATE BAND OF INHERITANCE TAX
A major change that affected the drafting of a traditional family will from 9 October 2007 was the introduction of transferable unused nil rate bands of inheritance tax between spouses and civil partners.
Before 9 October 2007, standard inheritance tax planning advice for a married couple and for civil partners was to advise that the nil rate band of the first spouse or civil partner to die be used on that person’s death, enabling legacies to other parties to be