Wills and pre-deceased beneficiaries

[philg]

Hope there is a simple answer to a slightly tricky question

My parents have not updated their wills in some time, and are asking if they really need to

The only problem I can see is that they have both bequethed sums of money to people who are now deceased themselves

So what happens if someone leaves money to someone who is already dead?

I can think of 3 possibilities

1. That part of the will becomes null and void
2. The beneficiaries of the deceased person (according to THEIR will) become the ultimate benificiaries (but what if their wills no longer exist?)
3. The state say "Thanks for the unexpected windfall"

Anyone know what the correct answer is?

Thanks

Phil G

[dzug2]

The answer is mainly 1 - unless the deceased beneficiary had children in which case those children (or their children if they are also dead) share it.

A failed bequest goes to the residuary beneficiaries of the estate, or is dealt with under the laws of intestacy if none are named

[philg]

Hmm Thanks dzug2

I like it when I think there are three possibilities and there's actually a fourth!

Does seem to make sense though - but I'll still lean on them to get their wills updated to make sure whatever they DO leave goes to the people they want it to go to

Much simpler in the long run

Phil G

[Barmaid]

And now I come up with further possibilities.

Firstly, it depends on the wording of the Will - eg

"I bequeath £200 to Mary Smith". That means that if MS has predeceased, the gift lapses (ie no one takes the £200 and it falls into residue) - irrespective of whether Mary Smith had children or not. HOWEVER, if Mary Smith is the testator's child, her children will inherit. Confused?! Quite.

"I bequeath £200 to Mary Smith but if she should predecease me then equally between her children" - yes the kids get it.

"I bequeath the residue of my estate to Tom, Dick and Harry if more than one in equal shares". In that case, say Tom predeceases, in which case Dick and Harry share the estate.

Probably best to get a lawyer to give the will the once over and perhaps think about codicils.