understanding wording in last will - help please

buddy1964

l dont understand the wording in my mums will,can someone explain in laymans terms please -
I GIVE DEVISE AND BEQUEATH - all real and personal estate whatsoever wheresoever as which owner or otherwise l shall at my death be competent or entitled to appoint or dispose by this my will to my trustees UPON TRUST to sell call in and convert into money such parts or parts thereof as may not consist of money (with full power to postpone such sale calling in and conversion for so long as my trustees shall in their absolute discretion think fit without been liable for loss )and to stand possessed of the net proceeds arising thereout together with my ready money and all assets for the time being unsold or unconverted (refered to as my residuary estate) UPON the following trusts namely
A) UPON TRUST ......MY DAD ABSOLUTLEY
PROVIDED ALWAYS that in the event of my dad predeceasing me then my residuary shall be held UPON TRUST for girl and boy absolutley

Is this a trust fund ? does my dad get all cash etc or is it held in a trust for boy and girl,may need to ask more questions too,thankyou

Dox

If your mother's father is still living at the time your mother dies, he inherits everything (or are you using 'dad' to refer to her husband/your dad? I think from the last bit of your question that's the case, so if your dad is still living etc etc.

How old are the 'boy and girl'?

buddy1964

i,m the trustee - the girl when this will was written l was 26 (now 55) and the boy is my brother who now is 61 and is also trustee
my dad died 3 months after my mum ,l didnt even know l was trustee - my brother just whisked the will away,my dad was 97 and living with my brother - and he made a will - between him dying and mum !
surely this isn,t right ? l havnt even been informed by my brother of anything - l was un aware l was trustee,my mum died in april 2017 my dad july 2017,l just kept asking my brother for my share,l decided to look for the will on line and just learnt all this
l just needed to understand what my mum has done before l go any further
did he need to make a will ? woud the money have gone to us anywa

elsien

Is this the exact wording
A) UPON TRUST ......MY DAD ABSOLUTLEY

Or is it the name of a person.
Because written as it is, that would seem to imply her father, not her husband (your father.)

If it does refer to your father and you've changed it to take the name out, and she died before him, then her money would go to your father, then when he passed away it would depend on what his will said as to what happens next. If he died without a will then the intestacy rules would apply.

I think.

buddy1964

no its my dads name - sorry for confusion

buddy1964

so it goes to my dad even tho it was still in my mums account ? l got the impression it was in trust to look after for us ?

xylophone

Your mother's will named you and your brother as executors and Trustees?

The will gave you and your brother power to deal with all your mother's assets (sell/hold) and apply the proceeds for the benefit of your father absolutely unless he should have predeceased his children (you and your brother) in which case the assets came to you. Your father survived your mother by three months so likely to have fulfilled any survivorship clause.

https://www.allaboutestates.ca/i-will-survive-then-again-you-may-survive/

You now need to look to your father's will to see how he chose to
leave the inheritance from your mother and any assets of his own?

melanzana

Without knowing more, it would appear to me that if "Dad" meant your father i.e your mother's husband, then everything would have gone to him on your mother's death since he survived her.

Then on your father's death, his estate would have gone according to his will, or on intestacy if he had no will. Just my 10c.

Marcon

buddy1964 wrote: »

l dont understand the wording in my mums will,can someone explain in laymans terms please -
I GIVE DEVISE AND BEQUEATH - all real and personal estate whatsoever wheresoever as which owner or otherwise l shall at my death be competent or entitled to appoint or dispose by this my will to my trustees UPON TRUST to sell call in and convert into money such parts or parts thereof as may not consist of money (with full power to postpone such sale calling in and conversion for so long as my trustees shall in their absolute discretion think fit without been liable for loss )and to stand possessed of the net proceeds arising thereout together with my ready money and all assets for the time being unsold or unconverted (refered to as my residuary estate) UPON the following trusts namely
A) UPON TRUST ......MY DAD ABSOLUTLEY
PROVIDED ALWAYS that in the event of my dad predeceasing me then my residuary shall be held UPON TRUST for girl and boy absolutley

Is this a trust fund ? does my dad get all cash etc or is it held in a trust for boy and girl,may need to ask more questions too,thankyou

The way you've asked the question/changed the wording makes it a bit difficult to follow, but it certainly looks as if your father inherited everything on your mother's death. As others have said, if he left a valid will, that will determine how his estate is distributed. If he didn't, then the intestacy rules will apply.

getmore4less

buddy1964 wrote: »

l dont understand the wording in my mums will,can someone explain in laymans terms please -
I GIVE DEVISE AND BEQUEATH - all real and personal estate whatsoever wheresoever as which owner or otherwise l shall at my death be competent or entitled to appoint or dispose by this my will to my trustees UPON TRUST to sell call in and convert into money such parts or parts thereof as may not consist of money (with full power to postpone such sale calling in and conversion for so long as my trustees shall in their absolute discretion think fit without been liable for loss )and to stand possessed of the net proceeds arising thereout together with my ready money and all assets for the time being unsold or unconverted (refered to as my residuary estate) UPON the following trusts namely
A) UPON TRUST ......MY DAD ABSOLUTLEY
PROVIDED ALWAYS that in the event of my dad predeceasing me then my residuary shall be held UPON TRUST for girl and boy absolutley

Is this a trust fund ? does my dad get all cash etc or is it held in a trust for boy and girl,may need to ask more questions too,thankyou

it can be confusing and that is fairly standard wording.

All estates become a trust with executors/administrators being the trustees.

The trust exists only for the duration of administration when there are absolute beneficiaries as in this case.

Sometime a will can also create trusts that last longer than the period of administration a very common one being IPDI(life interest) trusts where assets like a house go into the trust for the beneficial use of a life tenant and later get inherited by remainder men.

Typical IPDI case is spouse as life tenant, kids as remaindermen.

buddy1964

ok,the problem l have here is
1. my dads will hasnt been read - he died july 2017
2.l believe my brother will be executor - l believe he knows whats in the will - just stalling
3.l believe my dad did,nt know the value of the estate
and since my dad was living with him - l believe he left it to him to be kind as he didn,t know the true value