David Richards' estate — every gift, share and fallback, with the tax that travels with each one. Nothing is left undecided.
Estate value
£1,180,000
Passing tax-free
£1,118,000
Estimated IHT
£22,320
Computed against INHERIT v2 · E&W · reviewed: Stable
Residue (% shares)Charitable
Sarah 45%
Stephen 45%
Charity 10%
The residue is what remains after any debts and expenses — here it passes to David's two children in equal shares, with a tenth to charity. It is divided by percentage share below.
Sarah Richards · daughter · 45% of residue45%£531,000
Stephen Richards · son · 45% of residue45%£531,000
North West Railway Heritage Trust · charity · 10% of residue10%£118,000
✓ Shares add up to 100% — nothing left undecided100%£1,180,000
The family, and how the estate passes down
From the INHERIT v2 people-graph. David is a widower; his estate passes to his two living children — Sarah in Glasgow and Stephen in Dublin — in equal shares, with a tenth to charity.
DR
David Richards
will-maker
♡
His late wife
predeceased
SR
Sarah Richards
daughter · Glasgow
45% residue
ST
Stephen Richards
son · Dublin
45% residue
The beneficiaries
SR
Sarah Richards
Daughter · Glasgow · co-executor
Residue45% share of residue£531,000
She would receive
~£11,160 IHT share
£531,000
↳If Sarah predeceases David leaving children of her own, her share passes per stirpes to them (by the branch). You can switch to per capita if you'd prefer.
ST
Stephen Richards
Son · Dublin · co-executor
Residue45% share of residue£531,000
He would receive
~£11,160 IHT share
£531,000
↳If Stephen predeceases David leaving children of his own, his share passes per stirpes to them (by the branch). You can switch to per capita if you'd prefer.
RH
North West Railway Heritage Trust
Charity · 10% of residue
Charitable10% share of residue£118,000
They would receive
£0 IHT — charity exempt
£118,000
↳If the Trust has merged or closed, the gift passes to a charity with similar purposes, chosen by the executors (a cy-près fallback).
+
Add a beneficiary or gift
A person or charity. We'll show what they'd receive and any tax effect before you commit.
Fallbacks
What happens if something changes — every "if…then"
⏱
If a beneficiary dies within 30 days of David (survivorship period)
Their share is treated as if they had not survived and is redistributed to the remaining beneficiaries under the rules below. This 30-day rule stops an estate passing twice in quick succession.
↳
If a child predeceases David leaving children of their own
That child's share passes per stirpes to their children (by the branch). Switch to per capita if you'd prefer every grandchild to share equally instead.
⚖
If a beneficiary is under 25 when David dies
Their share is held on contingent trust until they reach 25; the trustees may apply income for their benefit meanwhile. (No current beneficiary is affected.)
∅
If a named gift fails — beneficiary gone, item sold, charity closed
A failed personal gift falls into residue; a failed charitable gift uses the cy-près similar-purposes fallback. No part of the estate is ever left undirected.
Tax insight
The gift to the Railway Heritage Trust cuts the rate on everything else
North West Railway Heritage Trust receives £118,000 — more than 10% of the taxable estate — so Inheritance Tax on the rest drops from 40% to 36%. The charity gets the full gift; the family pays less tax.
In plain English: leave at least a tenth of the taxable part of your estate to charity, and HMRC taxes the remaining taxable part four points lower.
IHT at 40%
£24,800
IHT at 36%
£22,320
Saving for the family
£2,480
Computed against INHERIT v2 · E&W Tax · reviewed: Stable
☆David is a widower — his late wife's unused nil-rate bands transfer to his estate. That lifts the combined threshold to £1,000,000 (transferable nil-rate band plus the residence nil-rate band, as the home passes to his children). Illustrative & provisional — not legal or tax advice. Worth a planning chat so the family isn't surprised — we'll never charge your card automatically.
IHT figures are estimates computed from your estate against the open INHERIT v2 standard's England & Wales tax rules (status: Stable, reviewed by a named reviewer) — guidance, not tax advice or a formal valuation. Per stirpes / per capita, survivorship periods, contingent trusts and cy-près fallbacks are modelled from the will's drafting; the figures move if the drafting changes. MyFamilyInherits does not provide legal or tax advice; planning is delivered by the regulated firms shown (SRA / CIOT / STEP).
Built on INHERIT v2
This demo is built on INHERIT v2 — an open standard for describing an
estate. We show you honestly which parts of this screen the standard can hold today,
which are planned, and which are still gaps.
✔Supported now5entriesThe standard already has a place for this today.
✔Supported now · shared core0entriesSupported by the part of the standard shared across our brands.
◆Planned0entriesA change proposal covers this. Where we can check the standard’s own record, we show its status.
▲Gap — needs planning3entriesOn the screen, but no change proposal covers it yet. These still need planning.
—Not a standard concept0entriesPage furniture, or something we decided the standard should not hold.
8 traced entries on this screen, from two overlapping traces
Each entry comes from either the screen’s feature list or the data the screen displays.
The two traces overlap, so one feature can appear twice: these are entries, not a count
of distinct features.
▲Gap — needs planningCharitable-insight (£118,000, £0 IHT, North West Railway Heritage Trust)
Status:ext.charity.name
a calculated figure, but it declares no computed_by + from inputs, so nothing shows the standard holds what it is calculated from
traced from the data this screen displays
▲Gap — needs planningPer-heir amount £531,000 each
Status:ext.distribution.heirs
a calculated figure, but it declares no computed_by + from inputs, so nothing shows the standard holds what it is calculated from
traced from the data this screen displays
▲Gap — needs planningShares Σ = 100%
Status:ext.distribution.total_percent
a calculated figure, but it declares no computed_by + from inputs, so nothing shows the standard holds what it is calculated from
A change proposal (ICP) is a tracked request to extend the standard. These are the ones
behind the “Planned” features across all 32 screens — and the few
already adopted and built. Where the standard has a written proposal we show its status
from the standard’s own record; where it does not, we say so rather than guess.
ICP-0001 · TT-657 — Port v1 consumer-estate surface into v2 (approved in the standard)
ICP-0002 · TT-658 — IHT 36% reduced charity rate (approved in the standard)
ICP-0006 · TT-663 — Marketplace & dealer model (tracked; no written proposal yet)
ICP-0007 · TT-664 — Valuation lifecycle enrichment (tracked; no written proposal yet)
ICP-0008 · TT-665 — Delegation, stewardship & marketplace integrity (tracked; no written proposal yet)
ICP-0013 · TT-672 — Condition grading (tracked; no written proposal yet)
ICP-0014 · TT-673 — Collector records bundle (tracked; no written proposal yet)
ICP-0015 · TT-674 — Legal-assurance model (pending in the standard)
ICP-0016 · TT-681 — Professional engagement & marketplace data model (approved in the standard)
ICP-0019 · TT-684 — Executor / personal-representative appointment & powers model (pending in the standard)
ICP-0020 · TT-685 — Distribution-logic primitives: survivorship, age-contingent, abatement, cy-près (pending in the standard)
ICP-0021 · TT-686 — Wishes, directives & plan-assessment primitives (pending in the standard)
ICP-0022 · TT-1029 — Post-death estate-administration & will-lifecycle domain (pending in the standard)
ICP-0024 · TT-1031 — Nomination / expression-of-wish — non-testamentary transfer route (pending in the standard)
ICP-0026 · TT-1033 — Free-text→structured multi-entity extraction (pending in the standard)
ICP-0027 · TT-1034 — Living-Monitoring change-event model (pending in the standard)
ICP-0028 · TT-1040 — Couple / mirror-vs-mutual wills modelling (pending in the standard)
ICP-0029 · TT-1068 — Insurance-cover model (pending in the standard)
ICP-0030 · TT-1069 — Catalogue item-import adapter (pending in the standard)
ICP-0033 · TT-1131 — Executor pre-death readiness facet (tracked; no written proposal yet)
ICP-0034 · TT-1132 — E&W IHT spouse exemption (tracked; no written proposal yet)
ICP-0044 · TT-1143 — Steward/authority-grant remuneration facet + paid-helper undue-influence safeguard (tracked; no written proposal yet)
ICP-0045 · TT-1014 — general Media/attachment primitive (tracked; no written proposal yet)
ICP-0046 · TT-1144 — Multi-opinion / consensus valuation shape (tracked; no written proposal yet)
ICP-0047 · TT-1145 — Compute faith fixed-shares (tracked; no written proposal yet)
ICP-0052 · TT-1172 — Funeral & farewell domain (tracked; no written proposal yet)
ICP-0054 · TT-1174 — Asset-side external-registry enrichment (tracked; no written proposal yet)
ICP-0055 · TT-1175 — Asset enrichment facets: maker/external-id (tracked; no written proposal yet)
ICP-0061 · TT-687 — Heir collaboration & asset-claim resolution (tracked; no written proposal yet)
ICP-0062 · TT-688 — Collections & asset disposition (tracked; no written proposal yet)
Checked against a pinned copy of the standard’s change-proposal register
(69 proposals, standard at main@f63ca72e116d), and against the standard’s own record of what it has adopted (24 written proposals, 66 computed rules). Sample estate — demo data, no sign-up.