Q: My sister died earlier this year and I was joint executor of her Will. When we were going through her bequests I noticed that they stated: “for his own beneficial use absolutely”. However, when I got out my own Will and looked at it there was no wording like that. Please can you explain what ‘own beneficial use absolutely’ means?
A: In a basic Will you would normally gift your assets ‘outright and absolutely’ to your beneficiaries upon your death, meaning that there are no conditions attached in respect of your beneficiary inheriting your assets. The purpose of the wording is to make it clear that the executor(s) of the Will does not, for example, hold the gift as a trustee for the beneficiary. So, it’s a straightforward gift, unlike a conditional gift that may have specific requirements or limitations, and it gives the beneficiary full ownership and control over whatever asset(s) they have inherited.
If say your sister had left assets to a minor, then the wording would have been different as it is probable she would have made stipulations such as the beneficiary needing to reach a certain age or achieve a specific milestone before receiving the asset. In which case it may say ‘absolutely at age 18’, meaning when the beneficiary reaches 18 they would then own the asset outright at that point, free of any conditions. Where assets are left to a minor it is likely that until they reach a specified age they will be managed by a trustee. This is sometimes the executor(s) of the Will.
Trusts are often used to protect assets from creditors and other liabilities, ensuring its long-term safety. A house in trust can be protected from unexpected legal claims or divorce settlements. By holding property in trust, you also avoid the legal process of probate, saving time and money.
This question has been answered by Ulia Choudhry, a Partner with GHP Legal. If you would like to speak to someone about this or any other legal matter, please visit our website www.ghplegal.com and use the contact us form, or call us on: Wrexham 01978 291456, Llangollen 01978 860313, Oswestry 01691 659194
