Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Legal matters

Mumsnet has not checked the qualifications of anyone posting here. If you have any legal concerns we suggest you consult a solicitor.

"Residuary gift on substantive trusts "what does this mean ?

2 replies

rileynexttime · 17/03/2023 13:11

I simply can't get my head round what this means ,and will the beneficiaries automatically receive anything receive anything or would they need to ask the Trustees ?

Any help gratefully received .

8. Transfer to trustees SUBJECT to the trusts DECLARED above my Executors shall transfer to or otherwise place under the control of the Trustees the Trust Fund to be held upon with and subject to the following trusts powers and provisions of my Will

9. Residuary gift on substantive trusts (a) SUBJECT as above the Trustees SHALL HOLD the Trust Fund UPON TRUST for my husband
absolutely

(b) SUBJECT as above the Trustees SHALL HOLD the capital and income of the Trust Fund for the following beneficiaries as shall survive me in equal shares: (i) my xx xxxx absolutely (ii) my xx
xxxx absolutely (iii) my xx xxxx absolutely (iv) my xx xxxx absolutely

OP posts:
ChirpyChirpyCheepCheepBeep · 17/03/2023 13:17

If H survives he takes absolutely ie no need to ask trustees for anything.

if H has dies then divided between the another’s absolutely ie no trust.

absolutely means there is no trust (other than the bare trust of the executors holding the assets before passing them on.

rileynexttime · 17/03/2023 13:21

Thank you @ChirpyChirpyCheepCheepBeep

OP posts:
New posts on this thread. Refresh page