How do I redistribute assets meant for a testamentary trust to another person(s) if a specific person(s) has died before me?
Take an example where your estate (or part of it) is meant to be allocated to your testamentary trust for the benefit of your children only (i.e. the children are both the primary trust beneficiaries and the remainder beneficiaries). However, if your children dies before you, you would want to have the assets allocated to the testamentary trust be redistributed to a substitute beneficiary.
To achieve this, you can key in the instructions under Select Clauses >> Other Instructions.
Provided in the sections below are the wordings for a few possible variations of this scenario. This is to be keyed under Select Clauses >> Other Instructions (please fill in the relevant details accordingly).
Death of one person; redistribute to single substitute beneficiary(s)
If my {Relationship}, {Name}, {Identification Number/details}, dies before me, the share of my estate that is allocated to My Testamentary Trust – {Name of Trust} as written in this Will shall be redistributed to my {Relationship}, {Name}, {Identification Number/details}.
Death of one person; redistribute to multiple substitute beneficiaries
If my {Relationship}, {Name}, {Identification Number/details}, dies before me, the share of my estate that is allocated to My Testamentary Trust – {Name of Trust} as written in 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}.
Death of multiple people, redistribute to single substitute beneficiary(s)
If ALL of the following people:
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
die before me, the share of my estate that is allocated to My Testamentary Trust – {Name of Trust} as written in this Will shall be redistributed to my {Relationship}, {Name}, {Identification Number/details}.
Death of multiple people, redistribute to single substitute beneficiary(s)
If ALL of the following people:
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details}; and
- my {Relationship}, {Name}, {Identification Number/details};
die before me, the share of my estate that is allocated to My Testamentary Trust – {Name of Trust} as written in 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}.