Property in trust qualify for main residence allowance?

[AGoodman]

...but in these particular circumstances that wouldn't help you.

There is a clause which provides that a gift to an individual descendent which is a gift with reservation can still count for the RNRB but I don't think it can be used here.

[green_post]

Many thanks for all your input on this.

From what you've all said it doesn't look too promising.

It feels like this was mis-sold, do people have much success in making complaints in this area? Would a complaint slow down the process of winding up the estate?

Apologies if I'm veering off-topic.

[maths]

As AGoodman comments above, if the gift (with reservation) had been to a lineal descendant (which it wasn't) the RNRB would in principle have been available.

[green_post]

Just to be totally clear, you're saying this wouldn't qualify as a gift (with reservation) because one of us (either my sister or I) would have to be named specifically? Both of us being beneficiaries of the trust isn't sufficient?

I'm just trying to understand the criteria for this.

[maths]

If the gift by the deceased is a gift with reservation then the RNRB will be available on death only if the recipient of the gift (the donee) was a lineal descendant of the deceased; the donee was the trustees of a discretionary trust.

[green_post]

Ok, that's clear.

Thanks for all your advice.

[AGoodman]

On the complaints point, you have two problems:

1. You need somebody to complain to. If a solicitor or accountant, you could complain to a professional body without too much difficulty. Other advisers may or may not have a professional body and some will not have the same teeth or resources and infrastructure to take action.

2. From a damages standpoint, the RNRB did not exist as a concept when the advice was given so it is nigh impossible to establish that the loss was foreseeable when the advice was given - an ingredient of a full legal claim and probably required to obtain compensation beyond fees from professional bodies as well. If you are just going for fees, it is a substantial risk to take in order to recover a relatively small sum.