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Intepreting a will

5 replies

lamettarules · 24/03/2018 10:40

So ,extract below

"I give all my estate to my husband if he survives me

if does not survive me then to my Trustees

i) upon Trust as to such my residuary estate to sell it or to retain it in the state in which it is at the time of my death and

ii) To hold my residuary estate upon trust absolutely for such of them my sons A and B and my grandchildren C and D as are living at my death and if more than one in equal shares and in the case of my grandchildren on attaining the age of 21 ."

I don't understand this .

Do the Trustees ( named earlier in the will ) hold the residuary estate in trust for the grandchildren ? If so for how long ?Just until they reach 21 ?

It's the holding in trust bit that confuses me ,it seems like the Trustees hold on to the estate .

Anyone help ?

OP posts:
Familylawsolicitor · 24/03/2018 10:43

This reply has been deleted

Message withdrawn at poster's request.

Familylawsolicitor · 24/03/2018 10:43

This reply has been deleted

Message withdrawn at poster's request.

lamettarules · 24/03/2018 11:22

Thank you FamilyLaw that was speedy !

A property in UK and a small house outside the UK ( an associated state of Britain ,following the British legal system ) .

OP posts:
BubblesBuddy · 25/03/2018 08:42

How would inheritance tax liability be calculated on the property left in trust? Is it exempt?

peridito · 26/03/2018 11:32

Bubbles - I have no idea ,but I always recommend Lemon Fools for questions like that
www.lemonfool.co.uk/viewforum.php?f=2&sid=30d123866f6949b6a6d5b265926623d3

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