How do I instruct different distributions for the same asset based on its value at the time of my death?
For immovable assets (e.g. condominium etc.), you should consider giving instructions to liquidate the asset first. To achieve this, under Allocate Assets, add in the asset accordingly and leave it as “No specific allocation”.
Within the asset, under Additional Instructions, key in the following:
I direct my Executor(s) to liquidate this asset before distributing the net proceeds to my beneficiaries.
If the net proceeds are less than or equal to {Currency} {Amount}, the entire amount is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
If the net proceeds are more than {Currency} {Amount}, the first {Currency} {Amount} is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
Any amount in excess of {Currency} {Amount} is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
If the asset is a movable asset (e.g. cash in bank accounts etc.) you can use the following instead:
If this asset is less than or equal to {Currency} {Amount}, the entire amount is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
If this asset is more than {Currency} {Amount}, the first {Currency} {Amount} is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
Any amount in excess of {Currency} {Amount} is to be distributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.