I was hoping that someone could explain what the following clause means in my dads will. My sister and I are trustees, executors and benefices. Both of our parents have passed away, my mum before my dad: I give all my estate and effects of whatsoever kind and wheresoever situate not hereinbefore specifically disposed of to my trustees UPON TRUST to sell call in and covert into money such parts thereof as are not money but with absolute power and discretion to postpones any sale calling in and conversion and to distribute in specie any asset of my estate without incurring liability whatever the nature of such asset.
Help with a clause on my dads will
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Hi
Welcome to LB
If there is anything specifically mentioned in the will that is left to a named person or organisation, then you should ensure that person or organisation receives it.
After that it appears that you and your sister have full discretion to do what you both want to happen with the remainder of the estate.
Is there a clause in the will that states the remainder should be split 50/50 between you and your sister?
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Originally posted by whitechurch View PostI give all my estate and effects of whatsoever kind and wheresoever situate not hereinbefore specifically disposed of to my trustees UPON TRUST to sell call in and covert into money such parts thereof as are not money but with absolute power and discretion to postpones any sale calling in and conversion and to distribute in specie any asset of my estate without incurring liability whatever the nature of such asset.
You can sell or not sell as you jointly wish. You can transfer any property or other asset to one or both of you without selling. You can choose not to sell.Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.
Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf
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Originally posted by Pezza54 View PostHi
Welcome to LB
If there is anything specifically mentioned in the will that is left to a named person or organisation, then you should ensure that person or organisation receives it.
After that it appears that you and your sister have full discretion to do what you both want to happen with the remainder of the estate.
Is there a clause in the will that states the remainder should be split 50/50 between you and your sister?
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Originally posted by whitechurch View Post
Yes it has to be split equally between us. I dont think my sister wants to sell the house though and I dont want to have to deal with a second home.
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So the question is not about the wording of the will. If need be you can bring court action seeking an order that the house be sold. This would be under the Trusts of Land and Appointment of Trustees Act 1996 (commonly referred to as TOLATA).Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.
Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf
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Originally posted by atticus View PostSo the question is not about the wording of the will. If need be you can bring court action seeking an order that the house be sold. This would be under the Trusts of Land and Appointment of Trustees Act 1996 (commonly referred to as TOLATA).
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