How do I indicate my wish for beneficiary(s) to share the proceeds if they sell an inherited property (including at a later time)?
There are many factors to consider when it comes to distribution of property. One important part of which is that assets directly distributed to a beneficiary through a Will are considered his/hers which generally will be up to him/her to do what he/she wants with it. That being said, beneficiaries might still follow the testator's wishes out of goodwill.
As this is not legally binding, there is no right or wrong way to craft your wishes. Regardless, here’s a sample you can use under "Additional Instructions" in the property if you have nothing else in mind:
While not legally binding, it is my heartfelt wish that if the beneficiary(s) of this property ever sell the property, whether immediately upon inheritance or at any later time, he/she/they shall distribute the net proceeds in the following manner:
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details};
- XX% to my {Relationship}, {Name}, {Identification Number/details}.