How do I give instructions for the Executor to liquidate and redistribute the net proceeds of a particular asset IF a specific beneficiary dies before me?
For example, if the intention is to leave the property to the husband, John Doe, but he passes away before the testator, the property should be liquidated, and the net proceeds distributed equally (50/50) between the two children, Jack Doe and Jane Doe.
Under the Allocate Assets tab, click on the specific asset.
Select "I give this asset to" and choose the person who you intend to give the asset to.
Under the "Additional Instructions" within the asset itself, key in the following depending on whether it is to distribute to another beneficiary or multiple beneficiaries.
If my {Relationship}, {Name}, {Identification Number/details}, dies before me, I direct my Executor(s) to liquidate this asset before distributing the net proceeds to my {Relationship}, {Name}, {Identification Number/Details}.
OR
If my {Relationship}, {Name}, {Identification Number/details}, dies before me, I direct my Executor(s) to liquidate this asset before distributing the net proceeds in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.
