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QC
QC, Solicitor
Category: UK Law
Satisfied Customers: 879
Experience:  8 yrs pqe, TEP, CPD Trainer in Inheritance Tax Planning
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This is in my dads Will could you explain exactly what it means

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This is in my dads Will could you explain exactly what it means please,i know in the past my sister lent my parents 17,500.
I bequeath the following pecuniary legacy,only on the condition that my said spouse has predeceased me,free of government duties and expenses,payable as soon as convient after my death but without interest theron to date of payment,viz:-
To (my sisters name)the sum of 30,000 plus additional interest of 8% per annum starting from the date of signing of this will until loan paid

DearCustomer/p>

 

First, the clause is only valid if your mum (or your dad's wife) died before your dad.

 

If that is the case, then your sister effectively is given £30,000 plus 8% annual interest from the date the Will was signed to death. If the Will was signed 2 years before death, then your sister would get £2400 for every year plus the additional £30,000, meaning £34,800.

 

The money owed by your sister is a separate matter and should be repaid if it is still owed. Also the money should be paid when the estate has cash to do so.

 

Sincerely

QC

Customer: replied 7 years ago.
could i contest that because i know and have proof with a receipt that my sister only lent my parents 17,500? why would she receive so much in return? thank you for your help

DearCustomer/p>

 

No, I am afraid you cannot contest the Will on that basis. However, the £17500 should be ofset. Basically it was your parents wish that they leave her that much. If the amount works out to be much, much more than is reasonable, then you could perhaps contest it on the basis that your parents did not understand the true effect of the Will.

 

Sincerely

QC

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