Urgent question about a will

[chris76]

My father died about four years ago and left all the grandchildren a legacy of �500, it is stated in the will (which i have a copy) that they are to be left �500 and given to them when they reach the age of twenty one.

When the covering letter with the cheques enclosed came from the solicitor, it stated that the money is to be invested and given to the grandchildren when they reach the age of 18, which is wrong in relation to what he stated in the will. The money was invested and one has already received the sum of �500 because he is now twenty one, but the family are up in arms because they want interest from the age of 18, as stated in the solicitors covering letter, but surely the solicitor was wrong and what stands up in a court of law is what is stated clearly in the will.

Any advice please, urgently

[dzug]

If you have given the full wording it sounds like a badly written will - not over the age 21 issue but over how the money was to be kept until they were 21 and who is to receive the interest on it - the grandchildren or the residual beneficiary of the estate, whoever that is. If that was not stated then you are either faced with coming to an agreement in the family or with the solicitors (executors?) about it or going to court. The latter will cost you far more than the sums involved and could easily wipe out their inheritance.

A sensible answer is that the grandchildren are entitled to a proportion of the interest on the sum from when it was invested until they receive it, unless the will states otherwise.

[Buenchico]

There seems to be a lack of information in your post. Any will which sets money aside for children to receive when they reach a certain age should have included the words 'upon trust'. The next item in the will should have said something like 'In respect of such trust I appoint Fred Bloggs and Myrtle Smith as trustees'. It is these trustees who are responsible for investing the money wisely and ensuring that it is properly distributed at the appropriate times.

Who are the trustees in this case? Did the will appoint the solicitor as a trustee or somebody else? If the money isn't properly distributed then the first course of action is to get the trustees to provide an explanation of their actions.

Chris
(Former MD of a will-writing firm).