Grandfather's Will - please help

hec2308

I'm having a bit of a panic and need some help. If you need any additional info please let me know and I will provide what I can.

My grandfather passed away on Boxing Day. I had become more involved in my grandparent's financial affairs since last year, and have previously come on here for help when I discovered my grandfather's State Pension was missing, but beyond that I wasn't involved.

I have been helping my grandmother with Probate and his estate, and we have completed a PA1 and an IHT205. As I understood it his entire estate was passing automatically to my grandmother. We've had the original Will back from the solicitors so that I can make copies and send it all off, but looking at the Will there is a clause that says:

4. I GIVE to each of my grandchildren as shall survive me the sum of FIVE THOUSAND POUNDS (£5000) absolutely.

There are 4 grandchildren including me. The Will was done in 2004 before my grandfather was diagnosed with Dementia and Parkinsons. I flagged this up with my grandmother because I was concerned that the paperwork I was about to send was contradictory to what we put on the Probate and IHT form, but she said there was also a codicil put in place at a later date that revokes the legacy and puts it in place at an increased amount but on second death. So I now have the original codicil here with me, was about to pack it all together but I've just checked and it says the following:

1. I increase the legacies to each of my grandchildren referred to in clause 4 of my Will to Twenty thousand pounds (£20,000) absolutely

It doesn't mention this legacy being changed to after my grandmother's passing anywhere. I'm panicking that there has been a misunderstanding. The money is there but it is everything that my grandmother has to live on and would involve her having to sell the house.

Does anyone have any advice? My grandmother still seems to think that the Wills were done as mirror Wills and therefore automatically mean that any legacies should be enforced on second death? But having just done my Will myself this isn't my understanding. I hope I'm wrong, I don't want to take a penny and would give it back if I had to take it legally.

Please help, the whole thing is making me feel quite stressed.

Keep_pedalling

Seems pretty clear that the codicil leaves that amount to the grand children. You say the house would have to be sold, but if the house is held as joint tenants then it automatically passes to your GM, so there would be insufficient liquid assets to meet the GCs bequest.

The way to resolve this would be for the GC to agree to forgo their legacy via a deed of variation, but they would all need to agree (assuming they are all adults) but that might lead to problems for them if any are on means tested benefits.

Sea_Shell

So was the grandmother (spouse ) or their children only residuary beneficiaries??

getmore4less

I would check the grandmothers will & codicil and consider going back to the solicitors that drew up the will/codicil to make sure there was not a mistake.

before that do read the will again and make sure the legacy is not in a second death section.

what do clauses 1,2,3 say?

hec2308

Oh my god what a relief. I'm such an idiot. Just because the codicil didn't say what I was expecting it to say I immediately jumped to panic, however I've checked through the Will and have found another clause saying that clause 4 should only apply if my grandmother does not survive him for the said period.

Sorry for wasting everyone's time but I'm so relieved. I've never dealt with this before so it's been a massive learning curve.

TBagpuss

No, mirror wills doesn't mean they don't take effect until the death.

As KeepPedalling says, the first question is whether your grandparents owned their house as joint tenants. If they did, then the house would go to your grandmother automatically, and the gifts to the grandchildren would come out of the rest of his estate (if he had any other assets, and after the funeral costs etc have been paid)

If they owned as tenants in common, then his share of the house would fall into his estate BUT you and the other grandchildren could agree to a deed of variation (if you are all adults) to enable her to keep the property. Or if that isn't possible because one or more of the grandchildren is under age, or is unwilling to agree to a variation,it would potentially be open to your grandmother to make an Inheritance Act claim on the basis that the will didn't make proper provision for her.

TBagpuss

so glad! It looks as if I was typing while you were.

getmore4less

hec2308 wrote: »

Oh my god what a relief. I'm such an idiot. Just because the codicil didn't say what I was expecting it to say I immediately jumped to panic, however I've checked through the Will and have found another clause saying that clause 4 should only apply if my grandmother does not survive him for the said period.

Sorry for wasting everyone's time but I'm so relieved. I've never dealt with this before so it's been a massive learning curve.

always worth that second read, easily done, I have know young(=new) solicitors stumble with these sorts of clauses.

don't be put of asking if not sure of something.

hec2308

Thank you everyone. I just went into panic as I know me and my sister would sign a Deed of Variation if it came to that but I can't say my cousins would. Was dreading the potential mess.