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Clare
Clare, Solicitor
Category: Law
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Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My mother and father had a will that mirrored each others other

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My mother and father had a will that mirrored each others other than their name change my mother died 4 years ago and father has just died in January. When mother died obviously everything became my dad's now however, on looking at the will can you explain the following clause
I bequeath the following specific legacies absolutely:
To my grandchildren all my shares stocks debentures debentious stock debts and other holdings of a capital nature of which I may be possessed or to which I may be entitled at the date of my death in equal shares.
Can "a capital nature" be translated as cash. The question is asked as my father sold the shares and put the money in the bank, so there are now no shares.
Further in the will it then says to pay all the rest and residue my children. If no shares and capital cannot be translated as cash does this now become part of "the rest and residue"
Reason for question is that we would like to pay the cash from the shares to grandchildren, but my sister who has no children may think that they are not entitled as should only have had shares.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is ***** ***** I will do my best to help you
No I am afraid that "holdings of a Capital nature" does not include money in ordinary Bank Accounts - and accordingly the gift "fails"
However if all of you agree then there is no reason nit to do what you suggest - but your sister would indeed have to agree - unless the rest of you are happy for the money to be deducted from your shares of the residue
Please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33948
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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