words on a will

bowb

Can anyone tell me what these words mean please.

If the gift of any share in my residuary estate shall lapse or fail completely,
then the lapse or failed share shall accrue to the others that have not lapsed or failed in the same proportions that such share bear to one another, subject to the same terms.

getmore4less

If the distribution is not equal then the failed share gets redistributed in the proportions of those left.

Eg
A 10%
B 20%
C 70%

If B lapses that share gets shared 1/8 7/8.

bowb

Thankyou get more 4less, I assume that B (failed) because they predeceased the estate. I was asked by a friend what this all means and I said it might go to next of kin.So thankyou very much for this timely advised.

getmore4less

You have to be very careful just because they die does not mean their share lapses.

There other rules that come into play and they also depend on wording which may be elsewhere in the will

bowb

I will expand. A gets 50% B £5K C £5k D £3k E £2k . I understand b c d e are gifts.Any monies left go to A. If B dies would their share go to c d e and a in proportion

rpc

If B is a descendent of the deceased, and has children themselves, S33(1) of the Wills Act means that B's inheritance would pass to B's children. (if there is no specific wording to the contrary)

You can't taken one line of a will in isolation. There may be provisions elsewhere and it depends on the relationship of the beneficiary to the deceased.

MichelleUK

bowb wrote: »

I will expand. A gets 50% B £5K C £5k D £3k E £2k . I understand b c d e are gifts.Any monies left go to A. If B dies would their share go to c d e and a in proportion

This does not make sense. The gifts are paid from the estate first, leaving the residual. A gets 50% of the residual, who gets the other 50%?

getmore4less

bowb wrote: »

I will expand. A gets 50% B £5K C £5k D £3k E £2k . I understand b c d e are gifts.Any monies left go to A. If B dies would their share go to c d e and a in proportion

That would be a very unusual residual clause.

bowb

Thankyou guys, will have a chat with my friend and have a good look at the will. And try to understand the wording line by line.I might not get back for a couple of days.

bowb

Sorry for delay guys. The will reads thus....
My residuary estate as follows As to 50% of my estate to the said A absolutely .

As to the next £5k or remainder part of my residuary estate if less than 5k to B absolutely.

The same wording for C D E with the appropriate amounts.

As to the remainder of my residuary estate if any to A absolutely.

getmore4less

That distribution makes more sense now.

interpreting the clause in the first post against that distribution I don't know.