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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 23067
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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If the beneficiary of an estate dies, and there is still funds

Customer Question

If the beneficiary of an estate dies, and there is still funds coming. Do those funds still go to that beneficiaries trust??
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.
If the benficiary leaves children then they will inherit. The Wills Act says-23Disposition to child(1)This section applies when—(a)a will-maker makes a will disposing of property to a child (child) of the will-maker; and(b)the disposition is to the child as a named beneficiary or as a member of a class; and(c)the child dies—(i)before or after the will-maker makes the will; and(ii)before the will-maker dies; and(d)the child leaves a child (grandchild); and(e)the grandchild is alive when the will-maker dies.(2)The will must be read as disposing of the property—(a)to the grandchild; or(b)among the grandchildren in equal shares, if more than 1 is alive when the will-maker dies.(3)Subsection (2) does not apply to a disposition—(a)that is expressly or impliedly stated to be conditional on the child being alive—(i)at or after the time when the will-maker dies; or(ii)at a time or event that will occur after the will-maker dies; or(b)that is expressly or impliedly stated to be conditional on the fulfilment of any other contingency, if the contingency has not been fulfilled before the will-maker dies; or(c)that is a specific disposition of personal chattels, as defined in the Administration Act 1969; or(d)that is to a person as one of 2 or more joint tenants.(4)Subsection (2) does not apply if the will makes it clear that the will-maker intended to dispose of the property other than to the grandchild or grandchildren.
Expert:  Chris The Lawyer replied 1 year ago.
But apart from children, if the beneficiary dies without leaving children, and the will does not provide for alternatives, then the legacy fails