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  • Will query

    OH has just received a Will and can anybody answer 2 queries please.

    There are possibly living persons so no names.

    Will was written 8 May 1970 , her Husband died Dec 1970 , she died 22 May 1978 . Gross £88000
    Executors a Bank and one Son.

    Section one
    I leave £ 5000 to my husband and £3000 to each of my 3 children.

    What would happen to the £5000 that was left to her Husband as he died 8 years previously ?

    Section two ( as written )
    After payment of just depts , funeral and testamentary expenses and the legacies heirin before given , I give and bequeath the residue of my estate to the Bank upon Trust to divide the same into three parts and to hold such parts for my three children absolutely and equally between them.

    How do you read section two ? All 3 children were 40 plus years so why is the money in Trust and what happens to it ?

    Ken

  • #2
    My understanding (not a lawyer!)...

    What would happen to the £5000 that was left to her Husband as he died 8 years previously ?
    That goes into his estate, to be distributed according to whatever his Will said (or didn't say).

    How do you read section two ? All 3 children were 40 plus years so why is the money in Trust and what happens to it ?
    I think that the Trust is created only long enough for the bank to fulfil its obligations to get in the estate and distribute it. That is to say, the bank gets it to collect up but doesn't inherit it.

    Christine
    Researching: BENNETT (Leics/Birmingham-ish) - incl. Leonard BENNETT in Detroit & Florida ; WARR/WOR, STRATFORD & GARDNER/GARNAR (Oxon); CHRISTMAS, RUSSELL, PAFOOT/PAFFORD (Hants); BIGWOOD, HAYLER/HAILOR (Sussex); LANCASTER (Beds, Berks, Wilts) - plus - COCKS (Spitalfields, Liverpool, Plymouth); RUSE/ROWSE, TREMEER, WADLIN(G)/WADLETON (Devonport, E Cornwall); GOULD (S Devon); CHAPMAN, HALL/HOLE, HORN (N Devon); BARRON, SCANTLEBURY (Mevagissey)...

    Comment


    • #3
      So how long after death can money be paid into a persons estate ?
      I would have expected to see a codicil added to this Will as her Husband died soon after the will was written.

      Another Will is obviously needed.

      Ken

      Comment


      • #4
        A dead person's valid Will can only be executed according to the testator's stated wishes. So once the deceased spouse's portion is put back in the pot, each (living) child will get £3000 plus one third of the net residue. The only subsequent adjustment that can be made legally (I did this with my father's will to reduce inheritance tax liability) is to redistribute a beneficiary's portion. I gave chunks to my children. I forget what the legal terminology for this is. I'm not sure what happens about assets that come to light after the executors have published their request for creditors and debtors to come forward and the deadline has expired. Obviously debts that come to light after the deadline are barred (I think!!).
        Uncle John - Passed away March 2020

        Comment


        • #5
          So how long after death can money be paid into a persons estate ?
          I'm less certain about that, but a proven Will is a public document, so there shouldn't be any problem about meeting the terms thereof, even if it's some time later.

          If there had been no Will, then you start on the per stirpes rules: you look at who inherits in intestacy - who "stands in the place of" the original heir.

          Christine
          Researching: BENNETT (Leics/Birmingham-ish) - incl. Leonard BENNETT in Detroit & Florida ; WARR/WOR, STRATFORD & GARDNER/GARNAR (Oxon); CHRISTMAS, RUSSELL, PAFOOT/PAFFORD (Hants); BIGWOOD, HAYLER/HAILOR (Sussex); LANCASTER (Beds, Berks, Wilts) - plus - COCKS (Spitalfields, Liverpool, Plymouth); RUSE/ROWSE, TREMEER, WADLIN(G)/WADLETON (Devonport, E Cornwall); GOULD (S Devon); CHAPMAN, HALL/HOLE, HORN (N Devon); BARRON, SCANTLEBURY (Mevagissey)...

          Comment


          • #6
            I think we're on the same wavelength! The executors have to publish a notice in the local paper giving debtors and creditors a set time to pay up or make a claim.
            Uncle John - Passed away March 2020

            Comment


            • #7
              If the will was considered invalid for any reason then the estate would be treated as intestate and the money divided between the children equally.

              There was a case on Heir Hunters where the deceased left a will saying the estate should go to her nephew and niece but it had not been signed in the presence of witnesses so was considered invalid and therefore it was treated as intestate - the nephew and niece were from the husband so were not blood relatives so they could not inherit - it was £100,000 !!

              The people who got the inheritance didn't even know the woman concerned and nobody had the decency to give anything to the two people who had looked after the woman in her old age.
              Margaret

              Comment


              • #8
                Thanks for your answers but there seems to be a bit of a tangent here.

                This womans husband died 7 months after she made her Will and then she lived another 7.5 years , so if the husband did leave a will would the £5000 be paid to his executors 8 years later ? and how long could money be paid into his estate ?

                Ken

                Comment


                • #9
                  If a person named in a will has already died then that money goes either to his descendants if that's what the will states or to the others named in equal shares - it doesn't go into the estate years later. In this case the result is the same.
                  Margaret

                  Comment


                  • #10
                    Taking it one step at a time:

                    1. The bequest to the husband would go back in the pot when he died.
                    2. Whether or not the husband left a will, the £5000 bequest from his wife could not form part of his estate because he died before he could inherit it.
                    Uncle John - Passed away March 2020

                    Comment


                    • #11
                      Snap!
                      Uncle John - Passed away March 2020

                      Comment


                      • #12
                        It would have been better if the wife had made a codicil saying what should happen to the money she had bequeathed to her husband but as she didn't it just gets lumped in with the overall total and distributed as per her other instructions.

                        Comment


                        • #13
                          Thank you Margaretmarch and Uncle John that makes sense.

                          Ken

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