I was appointed executor of a will where the Disposal clause is worded as follows: The whole of my estate to my son A, my son B, and my son C, if they live to be 25 years, to be held equally by such of them as shall survive me, but if any gift to any such beneficiary does not take effect then any benefit to which that beneficiary would have been entitled is to be taken by the child or children who survive me reaching 25 years and if more than one then equally.
The deceased party passed several years ago was a single mum who had no personal wealth and whose funeral expenses and medical bills had (more than) extinguished the monies available to the estate at that time.
Now (several years later), we have found a super fund who are now paying the deceased estate some funds. The three children/beneficiaries are all alive, childless and two of the three are over 25. Just want to confirm that I can divide the cheque into three parts immediately, give the two older kids their 1/3 share and hold the remaining third in trust for the third child until he reaches 25.
Thanks very much!
The deceased party passed several years ago was a single mum who had no personal wealth and whose funeral expenses and medical bills had (more than) extinguished the monies available to the estate at that time.
Now (several years later), we have found a super fund who are now paying the deceased estate some funds. The three children/beneficiaries are all alive, childless and two of the three are over 25. Just want to confirm that I can divide the cheque into three parts immediately, give the two older kids their 1/3 share and hold the remaining third in trust for the third child until he reaches 25.
Thanks very much!
