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Legal challenge: What does this paragraph in the Last Will mean?

I am trying to figure out this issue with my deceased father's Last Will.

From the will: "I give the residue of my estate to the trustee of the <father name> as it may be amended at the time of my death, to be held and disposed of as part of the trust estate in accordance with the provisions of the trust instrument. If the trust is not valid at the time of my death, then the provisions of the the trust instrument, as last amended, shall be incorporated herein by reference ant the residue of my estate shall be held and disposed of in accordance with the provisions of the trust instrument, as last amended."

What does that mean???

3 Answers

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  • ?
    Lv 4
    1 decade ago
    Favorite Answer

    Your father has clearly expressed his intentions but are the trustees able to clearly identify the trust property eg land, money, shares in a company etc. ...It's good that your father has drawn up a valid will but is the trust valid and enforceable now?

    Broadly speaking, in relation to every trust there is a person who has the control of property (called the trustee) and a person on whose behalf he or she must apply any benefit coming out of property (called the beneficiary).

    The trustee is the legal owner of the property.

    The trustee may required to exercise active duties in relation to your father's property. He/she may be required to manage and control the property, paying the income derived from it to a specified person or be required to sell and convert the property into money and to invest the proceeds of sale, and deal with the income and capital of the investments for the benefit of named beneficiaries.

    The trustee's principal duty is to preserve the trust property for the benefit of all the beneficiaries, and not to unfairly favour a beneficiary or a class of beneficiaries.

    A trustee must be of sound mind, not a convicted person or a bankrupt.

    Your father expects the trustee to deal with the trust property in a manner which is consistent with whatever provisions he has made.

    If the trust is terminated or no longer valid (egs all the beneficiaries, who are of full legal capacity, agree to conclude the trust and release the trustee from her or his obligations; upon the death of of a trustee, although the trust may continue on), the trust assets will be distributed to the beneficiaries in accordance with the terms of the trust instrument, the trust will come to an end.

  • 1 decade ago

    I think it means what ever the last thing he wrote, is what goes. If he had a will and then later changed it, the last change is what law. Lets say for example he left you money in a early will and years later he changed his mind and cut you out of the will. The last change is what he wanted so you wouldn't get the money.

  • tgal
    Lv 4
    1 decade ago

    After your father wrote his will, he may have certain things (like stocks,CDs, etc) that he may have omitted in the will. Or he may have been given something or earned interest after it was written. so that little paragraph covers a multitude of minute things that one person can take care of.

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