words on a will
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The first question to be answered is whether B's share really has lapsed.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm12084
It would make life easier if it hadn't. But if it has I'd think 50% of the legacy goes to A, and the remainder is divided 5:3:2 to C D and E.0 -
The first question to be answered is whether B's share really has lapsed.
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm12084
It would make life easier if it hadn't. But if it has I'd think 50% of the legacy goes to A, and the remainder is divided 5:3:2 to C D and E.
this is why I think I don't know.
A gets 50% B £5K C £5k D £3k E £2k A(a below) get residual of the residual.
where C,C,D,E. are in order if not enough money rather than abated.
if you take some estate values say
start with £20k
A £10k
B £5k
C £5k
D £0k
E £0k
a £0k
Normally if B's lapses D would get their £3k and E their £2k
in your version is would go to A,C 2:1.
What if it was A that lapsed do B&C get £10k each or do they all get their £5k,£5k,£3k,£2k and then the £5k left over get shared. 5:5:3:2
if we go higher say £40k
A £20k
B £5k
C £5k
D £3k
E £2k
a £5k
normally if B's lapse it goes to a.
so in your version do we include a or not that would be two option for sharing out B's £5k
20:5:3:2 or 25:5:3:2
I think the first step is go to the drafting solicitor and see if they can shed light on what the testator was trying to do or if the wording is standard legal speak that has well defined meaning not obvious to lay persons.0 -
The wide number of views shows just why the OP needs to paid paid for legal advice.getmore4less wrote: »this is why I think I don't know.
A gets 50% B £5K C £5k D £3k E £2k A(a below) get residual of the residual.
where C,C,D,E. are in order if not enough money rather than abated.
if you take some estate values say
start with £20k
A £10k
B £5k
C £5k
D £0k
E £0k
a £0k
Normally if B's lapses D would get their £3k and E their £2k
in your version is would go to A,C 2:1.
What if it was A that lapsed do B&C get £10k each or do they all get their £5k,£5k,£3k,£2k and then the £5k left over get shared. 5:5:3:2
if we go higher say £40k
A £20k
B £5k
C £5k
D £3k
E £2k
a £5k
normally if B's lapse it goes to a.
so in your version do we include a or not that would be two option for sharing out B's £5k
20:5:3:2 or 25:5:3:2
I think the first step is go to the drafting solicitor and see if they can shed light on what the testator was trying to do or if the wording is standard legal speak that has well defined meaning not obvious to lay persons.0 -
I think the idea the will maker was trying to achieve was that A (wife). Will always be the main benefactor B+C (their children). D+E (gran children ). It looks simple at 30k every one is happy. Say it's 40k then A will have the 10 k . But if it is say £10k them mum and first born child would have 5k each.
In reality I think wife will share estate with all the family.0 -
Whatever you may think the only way to find out is, as i said before, is to get paid for professional advice. Most of the replies so far have been less than convincing.0
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I think the idea the will maker was trying to achieve was that A (wife). Will always be the main benefactor B+C (their children). D+E (gran children ). It looks simple at 30k every one is happy. Say it's 40k then A will have the 10 k . But if it is say £10k them mum and first born child would have 5k each.
In reality I think wife will share estate with all the family.
Was this a DIY job by any chance?0 -
I think the idea the will maker was trying to achieve was that A (wife). Will always be the main benefactor B+C (their children). D+E (gran children ). It looks simple at 30k every one is happy. Say it's 40k then A will have the 10 k . But if it is say £10k them mum and first born child would have 5k each.
In reality I think wife will share estate with all the family.
That's the easy bit,the hard bit is what happens if one of the legacies lapses or fails which has very specific legal meanings.
what were they trying to do with that clause?
without the clause(any others that have not been mentioned) there are 2 classes of lapse/failure.
One or more of BCDE, in that class A picks up the cash as the residual of the residual.
in the case of A lapsing or failing any excess over the £15k would have fallen into intestacy.0 -
The crucial question is whether B died in the testator's lifetime. If yes then the legacy lapses; and on rereading the HMRC link I think it goes into the residue.
But if B were alive at the testator's death, then the legacy hasn't lapsed.0 -
The crucial question is whether B died in the testator's lifetime. If yes then the legacy lapses; and on rereading the HMRC link I think it goes into the residue.
But if B were alive at the testator's death, then the legacy hasn't lapsed.
it has been clarified that B,C are children and D,E are grandchildren
from your own previous linka gift in a Will to a child or remoter issue of the testator or testatrix (IHTM12001) will not lapse if the dead beneficiary leaves issue (children) who are alive at the testator’s death
the gift does not lapse as B is a child of the testator unless they don't have children of their own.0 -
But we don't know if D and E or one of them are children of B. If one or both are, then it makes everything easier.0
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