mom unsure of one aspect of her will

gettingtheresometime

tightwadess wrote: »

I've looked at the will and it doesn't appear to say anything other than the half share should one of the grand daughters god forbid predecease my mom would not automatically pass by suvivourship to the other granddaughter but would become part of the deceased g/daughters estate.....how does that help the surviving g/daughter only owning a 50% share and maybe wanting to sell if say no husband or dependants......Mom thinks it would be simpler if that 50% share would pass to other g/d ?? ......not even writing a will is as straight forward as she would of hoped for

I'm no expert I think thus is wrong.

If the granddaughter dies before the grandmother, at that point the ggranddaughter doesn't own the 50% - it still belongs to the grandmother who is alive.

Sambella

gettingtheresometime wrote: »

I'm no expert I think thus is wrong.

If the granddaughter dies before the grandmother, at that point the ggranddaughter doesn't own the 50% - it still belongs to the grandmother who is alive.

Correct. Grandmother could then make a new will if she wishes or have her will simply say that should a granddaughter predecease her then sole remaining granddaughter gets 100%.

Once grandmother dies and granddaughters get 50% each then it is THEIRS.

tightwadess

Sorted thanks

Sambella

tightwadess wrote: »

Mmmmm everything else in moms estate goes to me except this property so would it therefore pass to me on moms passing if g/d pre deceased's g/m ??

if you are residual beneficiary then yes that's possible but what if you predecease your mother?

Life throws up endless possibilities!! We often assume that the oldest will die first ...

tightwadess

Sorted thanks

tightwadess

Sorted thanks

gettingtheresometime

B
Ah I think what the solicitor means is if grandmother dies first then each granddaughter owns 50% on an individual basis so if one daughter dies, after the grandmother, then the 50% that that granddaughter owns forms part of her estate and is dealt with as per her will.

People often hold property in this way rather than as joint tenants which would mean that if one granddaughter died after the grandmother, then the surviving granddaughter would own the property 100% automatically.

I think what the will actually states us that provided the two granddaughters are alive at the time of death, the house is inherited by them.

So on the assumption that if this wasn't the case I would have thought the will would then put in a clause as to what happens to that bad case 50% or extremely unthinkable case 100%.

Is this what your mum wants to happen or would she want the great grandchildren to inherit the relevant %ages?

Sambella

If they were to be made joint owners rather than tenants in common then this may do what grandmother wishes. That the property then transfers 100% to remaining sole granddaughter upon death of one of them.

However. If your daughters sell the property and each take 50% of the proceeds this will then no longer apply

Have you thought about any children iof your daughters? Do you want them to be left out?

tightwadess

Sorted thanks

getmore4less

tightwadess wrote: »

Right this is as its worded on the draft of the will.....
...
(3) I give absolutely and free of all taxes all that my share or interest of whatever proportion nature or amount in my freehold property know as xxxxxxxxxx aforesaid to such of my grand daughters Xxxxxxxx and Xxxxxxxx as are living at the date of my death and if both as Tennant's in common in equal shares.

This is what is written on the letter that came with it.......

I understand that you do not wish to leave any pecuniary legacies but that you would like to leave your interest and in Xxxxxxxx. To your grand daughters Xxxxxxxx and Xxxxxxxx in equal shares. I have indicated that the property would be transferred to them to hold as Tennant's in common ..this means that your granddaughters will hold distinct half shares in the property. Which would then form part of their own respective estate on the death of either one of them at any time in the future rather than pass automatically to the survivor of them. I hope I have interpreted your wishes correctly but if you have any queries or wish to change to nature of ownership between the two girls do please let me know...

Phew

if there is only one alive then they get the house.

The rest is dealing with when they both survive.