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Trying to avoid a probate IHT mess...
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with the proviso that if B does not survive A by 28 days then the estate residue is split equally between the children (which is then itself a problem because there's no detail on how it would be administered for the 2 minor children).
No problem in so far as the two minors cannot give good receipt/hold real estate in their own names and therefore the default position is a bare trust until they reach their majority.
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Oh, the joy of DIY wills. I think you need to take legal advice to make sure what the testator wanted happens. As it stands B inherits, so what happens to the bequest if he dies, runs into financial difficulty or has to go into care?0
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As it stands B inherits, so what happens to the bequest if he dies, runs into financial difficulty or has to go into care?
B has made a will ( OP refers to being B's exor in the fullness of time) so that the property would pass according to his will as part of the residue.
With regard to B having financial difficulties/going into care, it seems that he has a substantial estate (not including the value of the property under discussion).
B is of a pretty advanced age, has assets that would already put their estate above the IHT threshold even before they took ownership of this additional property;0 -
I think you need to take legal advice to make sure what the testator wanted happens.
As things stand, the (perfectly valid) will is clear as to the beneficiary - what the testator said to the beneficiary as to what he hoped would happen is neither here nor there?
That said, I would have thought that the children or the OP acting on their behalf could demand "reasonable provision" from their parent's will?
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