Will beneficiary

madbadrob

poppystar said:

Spendless said:

p00hsticks said:

Spendless said:

Someone will correct me if Im wrong but I dont think it makes any difference that the will hadnt been settled before the child died. 

If the will had been settled before the child died then the child would already have been given the bequest and it would automatically form part of their estate when they in turn died. 

Well yes, (obvs- lol) but I was reading the question from the OP  as 'the money left to the child who died after the parent hadn't actually received the money/item yet so where/who does it go to?' 

AIUI the point at which it legally becomes the beneficiaries is on the death of the person whose Will it is (or at the end of any specified survivorship period) eventhough the money would only physically be theirs after the estate has been administered. 

Spot on.  

madbadrob

Ok I am reading the OPs question slightly different to everyone else so this may all be pointless
It sounds like the deceased whose will as left a sum of money to a person who is not a spouse or children of the deceased and that they are asking what happens to that gift if the person being gifted it has died.  The first question is did they die before or after the person who made the will. If the beneficary dies before the testator the gift lapses unless there are specific instructions as to what is to happen in this circumstance.

If they die after the testator and they pass any prescribed survivorship clause then it would be given to the estate of the beneficiary to be divided as pere the will of that person and if that beneficiary died intestate then as the rules of intestacy allow.  Any provision in the testators will of what should happen on death of the beneficiary assuming the beneficiary survived the testator as above are negated as the beneficiary is for all intents and purposes of this gift still alive.

I hope this makes sense.  It contradicts what others have said and if your in any doubt now it may be worth speaking to a solicitor or CAB for a second opinion.  

Rob

Doubleshotdamo

FlorayG said:

As far as I understand as long as there isn't a 'survivorship' clause that says the beneficiary has to live for x time after the bequeather dies then the amount that has been left to that beneficiary belongs to them on the day the bequeather dies. They can't access it until the will is settled but there's no argument that it's theirs and subject to their will
example; X writes a will that says "I leave everything to Y or if Y predecease me to Y's children"
X Dies
Y dies a month later
Y's will says "I leave everything to the local dogs home"
The dogs home gets everything, Y's children get nothing

That's assuming "everything" is left. In this case Y has a will but obviously won't include what they've just inherited, like property and cash. Who gets that? 

Cairnpapple

Doubleshotdamo said:

FlorayG said:

As far as I understand as long as there isn't a 'survivorship' clause that says the beneficiary has to live for x time after the bequeather dies then the amount that has been left to that beneficiary belongs to them on the day the bequeather dies. They can't access it until the will is settled but there's no argument that it's theirs and subject to their will
example; X writes a will that says "I leave everything to Y or if Y predecease me to Y's children"
X Dies
Y dies a month later
Y's will says "I leave everything to the local dogs home"
The dogs home gets everything, Y's children get nothing

That's assuming "everything" is left. In this case Y has a will but obviously won't include what they've just inherited, like property and cash. Who gets that? 

The will is normally written to cover everything, so if you get an inheritance or a bonus or a lottery win just before you die, it would still be covered by the will. 

Spendless

Doubleshotdamo said:

FlorayG said:

As far as I understand as long as there isn't a 'survivorship' clause that says the beneficiary has to live for x time after the bequeather dies then the amount that has been left to that beneficiary belongs to them on the day the bequeather dies. They can't access it until the will is settled but there's no argument that it's theirs and subject to their will
example; X writes a will that says "I leave everything to Y or if Y predecease me to Y's children"
X Dies
Y dies a month later
Y's will says "I leave everything to the local dogs home"
The dogs home gets everything, Y's children get nothing

That's assuming "everything" is left. In this case Y has a will but obviously won't include what they've just inherited, like property and cash. Who gets that? 

Well what does Ys will actually say? 

If Ys will says Z gets 100% or 20% then thats what theyll receive of Ys estate which will  inc the not yet settled inheritance from X