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Will Terminology
piglet22
Posts: 25 Forumite
I have a question regarding my mum's will and I wondered if someone could possibly advise whether my understanding is correct:
The will states:
7. Residuary gift to testator's children on substantive trusts
a) The trustees shall hold the trust fund for my said child 'Piglet22' provided that
(i) if any such child of mine shall die my lifetime or before attaining a vest interest leaving issue who shall....
(1) be living at my death or born after it and
(2) attain the age of eighteen years before the end of the Trust Period
(3) such issue shall take the share of the Trust fund which such child otherwise would have taken.
b) Subject as above the Trustees shall hold the capital and income of the Trust Fund for my brother absolutely.
Am I right in thinking that this means that I as 'Piglet22" am named beneficiary but should I have passed away the next named beneficiary, being my mum's brother, would be the benefactor.
Really confused by the terminology as I was over 18 when the will was signed so no trust conditions would appear to apply.
The will states:
7. Residuary gift to testator's children on substantive trusts
a) The trustees shall hold the trust fund for my said child 'Piglet22' provided that
(i) if any such child of mine shall die my lifetime or before attaining a vest interest leaving issue who shall....
(1) be living at my death or born after it and
(2) attain the age of eighteen years before the end of the Trust Period
(3) such issue shall take the share of the Trust fund which such child otherwise would have taken.
b) Subject as above the Trustees shall hold the capital and income of the Trust Fund for my brother absolutely.
Am I right in thinking that this means that I as 'Piglet22" am named beneficiary but should I have passed away the next named beneficiary, being my mum's brother, would be the benefactor.
Really confused by the terminology as I was over 18 when the will was signed so no trust conditions would appear to apply.
0
Comments
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I think the 18 yr old reference refers the age of your children.0
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Yes, the beneficiary is you, but if you had already died but left children they would inherit aged 18. If no children then the brother inherits.:heartpuls Daughter born January 2012 :heartpuls Son born February 2014 :heartpuls
Slimming World ~ trying to get back on the wagon...0
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