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Hello,
Looking at below wording in will can someone tell me if this means that the grandchildren should have any money in the bank and the children have the property. Or does it mean something different?
I give devise and bequeath all my remaining real and personal estate of whatsoever nature and wheresoever situate (including any property over which I may have a general power of appointment or disposition by will) to my trustees upon trust to sell call in and convert the same into money with full power in their absolute and uncontrolled discretion to postpone such sale calling in and conversion for so long a period as they shall think fit without being responsible for loss.
My trustees shall hold the net proceeds of such sale calling in and conversion together with my ready money and any property for the time being remaining unconverted on the following trusts:
a) upon trust and in equal shares for such my grandchild or grandchildren as shall survive me I give all of my liquid assets including any monies in my bank accounts and such monies shall be held by the parent of the child or children to be distributed at his or her discretion or upon attaining the age of 25 whichever is sooner.
b) upon trust absolutely my residuary estate for such of my children as shall survive me and in equal shares PROVIDED THAT if any of my said children shall die in my lifetime leaving a child or children as shall survive me and attain the age of 21 such child or children shall take by substitution and in equal shares and if more than one the share or interest which such deceased child of mine would have taken had they survived me and attained a vested interest under this my will.
Thanks
Looking at below wording in will can someone tell me if this means that the grandchildren should have any money in the bank and the children have the property. Or does it mean something different?
I give devise and bequeath all my remaining real and personal estate of whatsoever nature and wheresoever situate (including any property over which I may have a general power of appointment or disposition by will) to my trustees upon trust to sell call in and convert the same into money with full power in their absolute and uncontrolled discretion to postpone such sale calling in and conversion for so long a period as they shall think fit without being responsible for loss.
My trustees shall hold the net proceeds of such sale calling in and conversion together with my ready money and any property for the time being remaining unconverted on the following trusts:
a) upon trust and in equal shares for such my grandchild or grandchildren as shall survive me I give all of my liquid assets including any monies in my bank accounts and such monies shall be held by the parent of the child or children to be distributed at his or her discretion or upon attaining the age of 25 whichever is sooner.
b) upon trust absolutely my residuary estate for such of my children as shall survive me and in equal shares PROVIDED THAT if any of my said children shall die in my lifetime leaving a child or children as shall survive me and attain the age of 21 such child or children shall take by substitution and in equal shares and if more than one the share or interest which such deceased child of mine would have taken had they survived me and attained a vested interest under this my will.
Thanks
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