Common Example: 100% to parents, and if BOTH parents die before me, their share to redistribute to sibling(s)
Presuming you want to leave 100% of all your assets to your parents, and if both parents die before you (or within 30 days of your passing), the assets will be redistributed to your sibling(s) instead.
To achieve this, fill up the details and selections in “Update Profile” and “Appoint People” accordingly.
In the “Allocate Assets” page, you can leave all assets as “No specific allocation”, in which case they will be distributed based on the “Allocate Residual Assets” section.
Under Allocate Residual Assets, allocate the percentages to the parents accordingly.
In the “Select Clauses” page, leave the survivorship period as 30 days and select “Redistribute as Residual Assets” or "Still be given to him/her".
In the example given above, selecting "Redistribute as Residual Assets" here will mean that if either parent dies before the testator, his/her share will be given to the other parent.
Under the “Other Instructions” section, key either of the following substitute beneficiary clauses (please edit the details accordingly) depending on whether there are more than one child to redistribute to:
If ALL of the following beneficiaries:
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
die before me, the share of my estate which they would otherwise be entitled to receive under this Will shall be redistributed to my {Relationship}, {Name}, {Identification Number/details}.
OR
If ALL of the following beneficiary(s):
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
die before me, the share of my estate which they would otherwise be entitled to receive under this Will shall be redistributed in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details}; and
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
If you want to factor in another layer of contigency whereby if any of the siblings die before you, his/her/their share shall be distributed amongst the surviving siblings, you can add in the following substitute beneficiary clause:
If ANY of the following beneficiary(s):
- my {Relationship}, {Name 1}, {Identification Number/details};
- my {Relationship}, {Name 2}, {Identification Number/details};
- my {Relationship}, {Name 3}, {Identification Number/details};
dies before me, the share of my estate which he/she/they would otherwise be entitled to receive under this Will shall be redistributed EQUALLY to the SURVIVING beneficiary(s) stated in this sentence [i.e. Name 1; Name 2; Name 3].