Explanation of statement in a will.

[Bobbyboy]

What does the following statement in a will mean-- 50% of the maximum amount payable, without inheritance tax becoming payable to Fred Smith?
Thanks for any replies.

[PallasAthena]

From that short extract, and no context, I can't work out what it is meant to mean. Is it supposed to be specifying what is to be paid to a beneficiary? Did a solicitor draft the Will?

Is the punctuation in the extract the same as the original? Or does the original have a comma after the second "payable"?

What's your role? Are you an Executor trying to work out what you have to pay to Fred Smith?

[Bobbyboy]

Thanks for your reply.

From that short extract, and no context, I can't work out what it is meant to mean. Is it supposed to be specifying what is to be paid to a beneficiary? YES Did a solicitor draft the Will? YES

Is the punctuation in the extract the same as the original? YES

Or does the original have a comma after the second "payable"? NO

What's your role? Are you an Executor trying to work out what you have to pay to Fred Smith? YES

There are two beneficiary's, both have the same amount and what is over goes to Charity.

[Pezza54]

IMO the extract doesn't make sense.
If two beneficiaries receive 50% each of the whole of the estate after any taxes, there is nothing left for charity.
The solicitor should have stated an actual sum of money bequeathed to charity and the remainder of the estate split 50/50 between the two named beneficiaries. Leaving money to charity can reduce IHT