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NSW Clarification of a Will?

Discussion in 'Wills and Estate Planning Law Forum' started by franklyspeaking, 23 May 2018.

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  1. franklyspeaking

    franklyspeaking Active Member

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    I am reading a Will and there is a paragraph that says "to hold the balance upon trust for such of my children as shall survive me and if more than one in equal shares

    Can someone interpret this please? Does it mean the rest and residue or what?
     
  2. AdValorem

    AdValorem Well-Known Member

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    Hi franklyspeaking

    It depends what the preceding clauses in the will say.

    If they refer to specific gifts to named beneficiaries and payment of testamentary expenses then the paragraph in your message refers most likely to the residue to be hold on trust by the executor. If the testator had two children and they both survived the testator the residue is to be divided equally between the two children. If a child predeceased the testator then other provisions in the will should clarify what happens with the share of the predeceased child. If the executor is in doubt they should seek legal advice.
     
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  3. franklyspeaking

    franklyspeaking Active Member

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    OK that is what I thought and thanks so much for clarification - a big help. The testator had three children all surviving the testator so the residue is divided three ways. There may be some more questions not dissimilar to the one posted, which I will post as they arise. I am looking at a Will and the language is very old school and some of it needs clarifying.
     
  4. franklyspeaking

    franklyspeaking Active Member

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    On the matter of Wills again...if a beneficiary is left the residue in equal share. The residue consists of a few small investments.

    Will the solicitor who is not the executor, have to sell up the investments and distribute the cash? Meaning, how does the solicitor determine the amounts to distribute if it is in equal shares? The investments are not equal but the will says equal distribution.

    Can the executor and trustee make a decision and direct the solicitor to distribute different amounts to the beneficiaries without their permission or will the solicitor have to distribute equally?
     
  5. Adam1user

    Adam1user Well-Known Member

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    I recommend to talk someone who knows the law well or is a lawyer, these are not general English and you have not stated all the info.
     
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  6. Rod

    Rod Well-Known Member

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    Depends on what kind of investment they are and whether they are transferable.
     
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