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MFI — Beneficiaries · legal + tax (richer v4)
Springboard: 45-beneficiaries (pre-tax). Richer: list + cards + relationships + allocations preserved → adds spousal exemption, charitable 36% rate, per-beneficiary "what they'd receive" + IHT impact, contingent beneficiaries, %-vs-specific allocation, sums-to-100% check.
1. All beneficiaries
2. Margaret (spouse)
3. RNLI (charity)
Dashboard › Beneficiaries
Beneficiaries
4 people & causes in your estate plan · who gets what, and the tax that goes with it
Estate value
£560,000
1 property · 12 items · accounts & pensions
Passing tax-free now
£308,000
Margaret (spouse) + RNLI (charity)
Taxable estate
£60,000
value above your £500k allowance
Estimated IHT
£21,600
at the 36% charitable rate
💡 Two of your beneficiaries change the tax: gifts to Margaret are exempt, and leaving 10%+ to RNLI cuts your rate to 36%. See each person below for what they'd receive. computed against INHERIT · E&W Tax · reviewed: Stable
Allocation check — does it all add up?
✓ Shares add up to 100% — nothing left undecided
Margaret Richards · spouse · % share of residue50%£280,000
Paul Richards · son · % share + specific gifts25%£140,000
Sarah Richards · daughter · % share + specific gifts15%£84,000
RNLI · charity · specific gift £56,00010%£56,000
Total allocated100%£560,000
MR
Margaret Richards
Spouse
Allocation50% of residue
They'd receive£280,000
IHT on this gift£0 — exempt
★ Spousal exemption — gifts to a husband or wife pass with no Inheritance Tax. Tax is only deferred to the second death; flag for planning.
View details & tax →
PR
Paul Richards
Son
Allocation25% + 5 items
They'd receive£140,000
IHT share~£8,650
▸ Children share the taxable estate. The 36% charitable rate (see RNLI) already reduces what's deducted here.
View details & tax →
SR
Sarah Richards
Daughter
Allocation15% + 1 item
They'd receive£84,000
IHT share~£5,190
▸ Sarah is named executor. Her share is taxable; the charitable rate lowers the bill the estate pays.
View details & tax →
RN
RNLI
Charity
Allocation£56,000 gift
They'd receive£56,000
IHT on this gift£0 — exempt
★ Charitable rate unlocked — this gift is 10% of the taxable estate, so the rest is taxed at 36% not 40%, saving ~£2,400.
View details & tax →
+
Add a beneficiary
A person or a charity. We'll show what they'd receive and any tax effect before you commit.
Tax insight
Your charitable gift cuts the rate on everything else

Because RNLI receives £56,000 — more than 10% of your £60,000 taxable estate — Inheritance Tax on the rest drops from 40% to 36%.

Charitable rate, in plain English: leave at least a tenth of the part of your estate that would be taxed to charity, and HMRC taxes the remaining taxable part at 36% instead of 40%.

IHT at 40%
£24,000
IHT at 36%
£21,600
Saving for the family
£2,400
computed against INHERIT · E&W Tax · reviewed: Stable
Dashboard › Beneficiaries › Margaret Richards
MR
Margaret Richards
Spouse
margaret@richardsfamily.co.uk · 07700 900118 · Altrincham
50%
Share of residue
£280,000
What she'd receive
£0
IHT on her gift
2
Items earmarked
Tax insight
Everything Margaret receives is free of Inheritance Tax

Gifts between spouses or civil partners are fully exempt from Inheritance Tax, whatever the amount. Margaret's £280,000 passes to her with £0 IHT.

Spousal exemption, in plain English: anything you leave to your husband, wife or civil partner is tax-free when you die. The catch is that the tax isn't cancelled — it's deferred. On Margaret's later death, whatever she still holds may be taxed then. Worth a planning chat so the family isn't surprised later.

computed against INHERIT · E&W Tax · reviewed: Stable
What Margaret would receive
50% residue + 2 specific gifts
The gift
50% share of residue£275,400
Wedding ring (specific gift)£2,600
Garden bench (specific gift)£2,000
She'd receive£280,000
Tax on this gift
Taxable value£0
IHT @ 36%£0
ReasonSpousal exemption
IHT deducted£0
computed against INHERIT · E&W Tax · reviewed: Stable
Personal & relationship detail
Full name
Margaret Anne Richards
Relationship
Spouse — married 1981
Email
margaret@richardsfamily.co.uk
Phone
07700 900118
Location
Altrincham (same household)
Executor?
Yes — joint with Sarah
If Margaret cannot inherit
contingent plan
↷
If she dies before you, or within 28 days
Her 50% share is divided equally between Paul and Sarah
↷
If she cannot act as executor
Sarah continues as sole executor
Items earmarked for Margaret
2 items
💍
Wedding ring
Wishes · "Margaret keeps the ring, of course"
Agreed
2 Mar
🪴
Garden bench
Wishes · "Her spot in the garden"
Strongly wants
2 Mar
Dashboard › Beneficiaries › RNLI
RN
RNLI
Charity · reg. 209603
Royal National Lifeboat Institution · legacy@rnli.org.uk
£56,000
Specific gift
£0
IHT on this gift
36%
Rate it unlocks
£2,400
Saving for family
Tax insight
This gift triggers the reduced 36% charitable rate

Your £56,000 gift to RNLI is more than 10% of your £60,000 taxable estate. That means the rest of the taxable estate is charged at 36% instead of 40% — and the charitable gift itself is IHT-free.

Charitable rate, in plain English: leave at least a tenth of the taxable part of your estate to charity and HMRC rewards it by taxing the remaining taxable part 4 points lower. The charity gets the full gift; the family pays less tax.

Gift to RNLI
£56,000
IHT before (40%)
£24,000
IHT after (36%)
£21,600
Family saving
£2,400
computed against INHERIT · E&W Tax · reviewed: Stable
What RNLI would receive
specific cash gift
The gift
Cash legacy£56,000
As % of taxable estate93%
They'd receive£56,000
Tax on this gift
Taxable value£0
IHT charged£0
ReasonCharity exemption
IHT deducted£0
computed against INHERIT · E&W Tax · reviewed: Stable
Charity detail
Charity name
Royal National Lifeboat Institution
Registered number
209603 (England & Wales)
Gift type
Specific cash legacy
Why this cause
David's note: "For the Tenby crew"
If RNLI cannot accept the gift
contingent plan
↷
If RNLI has merged or closed
The gift passes to a charity with similar purposes, chosen by the executors
IHT figures are estimates computed from your estate against the open INHERIT standard's England & Wales tax rules (status: Stable, reviewed by a named reviewer) — they are guidance, not tax advice or a formal valuation. The spousal exemption defers tax to the second death rather than cancelling it; the 10% charitable test is applied to the taxable part of the estate. MyFamilyInherits does not provide legal or tax advice; planning is delivered by the regulated firms shown (SRA / CIOT / STEP). You will never be charged automatically.