Deed of variation

NeilCr

I am a beneficiary in a will.

The will consists of various specific monetary bequests - if there is anything left over there is a generic clause about that going to help unnamed other people. It doesn't specify who they are or any particular charity.

The will was made eight years ago and there is enough in the estate to cover IHT and the monetary bequests. There will be money remaining.

There are two executors - one an individual and one a solicitor. The individual is proposing that there is a deed of variation to increase the bequests by the rate of inflation over the eight years. The solicitor hasn't commented yet. There was an intention by the deceased to change the will but he never got round to it

Out of interest is this a goer? I assume that none of the beneficiaries would not agree!

To be clear the extra money (although, obviously, nice) is not the reason I am asking. I am, genuinely, curious to know if anyone has a view on this. It's not something that has ever occurred to me

Thanks for any light folks can shed. I must admit I have my doubts!

getmore4less

What does the residual clause say.?

Often anything that falls through all clauses becomes partial intestate estate.

Mojisola

NeilCr wrote: »

The will consists of various specific monetary bequests - if there is anything left over there is a generic clause about that going to help unnamed other people. It doesn't specify who they are or any particular charity.

The only people who can give money away through a DOV are the people whose inheritance would be adversely affected by it - how would that work if the residual beneficiaries aren't named?

Was this a home-made will?

NeilCr

The residual clause is along the lines of 'to help this generic group of people". Sorry I don't want to be too specific but a silly example would be "to provide help and support to teddy bears ". No teddy bears named nor any specific teddy bear charity

Mojisola. No - not home made.

I sort of had that thought about a DoV but I don't have enough knowledge which was why I asked here.

It didn't sound a runner to me, to be honest.

Sea_Shell

So it just says " the homeless" or "the disabled" or "the needy"???

Mojisola

NeilCr wrote: »

The residual clause is along the lines of 'to help this generic group of people".

Mojisola. No - not home made.

We've left some money to charities in our wills and our solicitor insisted on having the exact name and their charity number to avoid problems for our executors.

Mojisola

NeilCr wrote: »

The will consists of various specific monetary bequests - if there is anything left over there is a generic clause about that going to help unnamed other people. It doesn't specify who they are or any particular charity.

NeilCr wrote: »

The residual clause is along the lines of 'to help this generic group of people". Sorry I don't want to be too specific but a silly example would be "to provide help and support to teddy bears ". No teddy bears named nor any specific teddy bear charity

Do any of the named beneficiaries fit into the generic group?

If so, the executors could possibly increase their share.

NeilCr

Mojisola wrote: »

We've left some money to charities in our wills and our solicitor insisted on having the exact name and their charity number to avoid problems for our executors.

Mojisola wrote: »

Do any of the named beneficiaries fit into the generic group?

If so, the executors could possibly increase their share.

No. Not at all

Sea Shell. Yes.

Sea_Shell

I'm assuming it doesn't then say " at the discretion of the executors" either?

NeilCr

Sea_Shell wrote: »

I'm assuming it doesn't then say " at the discretion of the executors" either?

Not as I understand it - but I haven't seen the will. Probate not granted yet.

getmore4less

A class can can include identifiable individuals without naming them.

Probably creates a standard will trust for the class.