Questions about a Will....

sho_me_da_money

Hello guys,

I am really sorry for raising this in the wrong section but I was hoping someone could help me out with a couple of definitions in a Will.

My gran passed away and left her estate to my father as described in the following portion of the will:

Section 1

1. I give devise and bequeath the following to my son FATHERS NAME absolutely:

a) ALL THAT of my property ADDRESS aforesaid
b) My Assurances Plc Policy numbered XXXXXXXX

That part I understand. It is the following I do not understand and was hoping if anyone could explain and provide answers to questions below:

Section 2

4. I give devise and bequeath all my real and personal property of whatsoever nature and wheresoever situate of or to which I shall be possessed or entitled at my death except property otherwise disposed of by this my Will or by any Codicil hereto unto my Trustees UPON TRUST to sell call in and convert the same into money with power to postpone such sale calling in and conversion for so long as my Trustees shall in their absolute discretion think fit without being liable for loss.

5. My Trustees shall hold the net proceeds of such sale calling in and conversion and the properties for the time being remaining unconverted and my ready monies (hereinafter called "my residual estate" upon the following trusts:-

a) To pay my debts funeral and testamentry expenses and all taxes payable in respect of property passing under this my Will or Codicil hereto
b) Subject thereto UPON TRUST for my said daughter "AUNTIES NAME" absolutely.

End.

I appreciate the following may be a little long winded especially after you have been kind enough to explain the above. I am extremely grateful for your time and help.

My questions

1. Does my dad completely own the estate or does my aunt have any say in it

2. If my dad wanted to sell the estate can he or will my aunt have a say in it?

3. Can my dad leave the estate to my brother absolutely or will my aunts approval be required?

4. If God forbid, my dad passed away, who would the estate go to IF in his will he wants the owner to be my brother?

5. If God forbid, my dad passed away, who would the estate go to if there was NO will

6. Does my aunt have any say in the property at all given the above wording? If so, can my father disassociate her from any future decision regarding the estate? And have absolute say in what happens to the house?

Thank you very much for taking the time. If there is another thread that this post would better suit, please let me know and I will move it there.

joegib

I'm no lawyer but I had a lot of experience interpreting legal documents (including wills) in my working life. My take on the provisions you quote is:

1 Your father has inherited the house/land at the address specified plus the proceeds from the insurance policies mentioned. He acquires these assets 'absolutely' which means he now owns them though they won't pass into his possession effectively until the period of administration is concluded. Even so, your father could now make a will leaving these particular assets to whichever relative he chooses. Note though that this is the full extent of your father's interest in what you call 'the estate'.

2. The rest of your gran's assets of whatever kind — what the will calls 'the residual estate' — are to be held for the benefit of your aunt by 'the Trustees'. What brings the Trust to an end will depend what the will has to say about that in other clauses. It might be that the Trust only runs for the period of administration after which the trustees (executors?) pass over what has been realised from these assets to your aunt. Alternatively, the will may provide that the trustees hold and manage the assets for a period of time before passing over the proceeds. This is speculation but your father has no iterest in or control over what happens to this part of the estate.

I haven't answered your particular questions because they're 'off-key' since it's not clear what you mean by 'the estate'. I think the above covers the situation fairly clearly though.

Joe

PS Why not ask the executors?