The following scenario relates to questions $16-20.$ Jeffrey died on $11$ January $2023.$ At death his estate comprised chattels, quoted shares and cash valued at $1,580,000.$ Jeffrey had a life insurance policy which was valued at $250,000$ on his death. The insurance proceeds paid to the executors of his estate were $375,000.$ At death Jeffrey owed unpaid income tax and capital gains taxes amounting to $24,000$ and his funeral expenses were $7,000.$

On $8$ September $2017$ Jeffrey had made a lifetime gift of $500,000$ into a trust. The tax arising was paid by Jeffrey. This was his only lifetime transfer.

Jeffrey's wife, Stella, had died in June $2008.20\%$ of her nil rate band was unused and therefore available to be claimed by Jeffrey's personal representatives after his death.

Nil rate bands:

$\backslash$table$[[2008-09,312,000$