Understanding the wording on a Will - not related to an earlier thread on the same subject

GoogleMeNow

Could experienced posters please advise me who is the beneficiary of this Will?  What does Person A and Person B get out of this and is it the children (not named) who are the beneficiaries?
I am sorry it is long-winded, but thought it better to include all of the clauses rather than pick a few out.  Very grateful for advice and comments.



Last Will & Testament of me ********** of "address" dated *****

1. I hereby revoke all former Wills and Testamentary Dispositions made by me.

2. The Executors and Trustees of this Will ('my trustees') shall be Person A and Person B of "address"

3.  In the subsequent clauses of this my Will the expression "my trustees" shall include the trustees for the time being hereof.



5. Provided said Person A and Person B shall act as my Trustees they shall be entitled to charge my estate the sum of £*****  for so acting. 



7. My Trustees may exercise their powers without consulting beneficiaries so Section 11 of the Trusts of Land and Appointment of Trustees Act 1996 shall not apply.


  

10.  My Trustees shall hold my Residuary Estate on trust for such of them my children as shall survive me and if more than one in equal shares absolutely.


Thank you for reading this far!

Mark_d

It appears that Person A and Person B get nothing - apart from costs incurred in sorting out the affairs of the deceased.  The children are the sole beneficiaries

Keep_pedalling

Are person A & B solicitors or probate professionals? if not I don’t see that they can charge VAT. 

Linton

Keep_pedalling said:

Are person A & B solicitors or probate professionals? if not I don’t see that they can charge VAT. 

Yes, the whole will seems very odd.  It uses long strings of legalese but seems to contain basic errors.

1) Surely, executors can charge their legitimate expenses to the estate without any limit.  What is this £9K?  If it is intended to be a bequest as thanks for their efforts the will should say so and VAT as you say is irrelevent.  

2) To the question raised by the OP, the will states the the Trustees should hold the money for the children but fails to say how and when they should dispose of it.

3) Section 8 says that bequests to beneficiaries who die prior to the death of the testator are distributed "per stirpes" whereas section 10 only talks about "my children" who survive..

Perhaps if I was a lawyer I would understand it.

GoogleMeNow

Keep_pedalling said:

Are person A & B solicitors or probate professionals? if not I don’t see that they can charge VAT. 

Persons A & B were partners in their own firm until a few years ago when it was closed.  They are not listed on the SRA's solicitors roll.

Keep_pedalling

GoogleMeNow said:

Keep_pedalling said:

Are person A & B solicitors or probate professionals? if not I don’t see that they can charge VAT. 

Persons A & B were partners in their own firm until a few years ago when it was closed.  They are not listed on the SRA's solicitors roll.

In which case I would ask them to revoke there powers for the beneficiaries to administer the estate. 

GoogleMeNow

Keep_pedalling said:

GoogleMeNow said:

Keep_pedalling said:

Are person A & B solicitors or probate professionals? if not I don’t see that they can charge VAT. 

Persons A & B were partners in their own firm until a few years ago when it was closed.  They are not listed on the SRA's solicitors roll.

In which case I would ask them to revoke there powers for the beneficiaries to administer the estate. 

Thank you for the suggestion. 

Unfortunately they won't do that.