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Difference between revisions of "Making and Executing a Will (16:III)"
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Making and Executing a Will (16:III) (view source)
Revision as of 22:17, 9 August 2021
, 22:17, 9 August 2021→a) Vesting Clause
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This clause gives the Executor/Trustee the power to deal with the estate as they see fit, in keeping with the will-maker’s wishes under the will and the Trustee’s fiduciary duties. | This clause gives the Executor/Trustee the power to deal with the estate as they see fit, in keeping with the will-maker’s wishes under the will and the Trustee’s fiduciary duties. | ||
*SAMPLE: “I give my Trustee all my property of every kind and wherever located to administer as I direct in this Will. In administering my estate, my Trustee may convert or retain my estate as set out in paragraph(s)... [ | *'''SAMPLE:''' “I give my Trustee all my property of every kind and wherever located to administer as I direct in this Will. In administering my estate, my Trustee may convert or retain my estate as set out in paragraph(s)... [refer to the applicable “convert, keep or invest” clause] of this Will” (2020 CLEBC ''Wills and Personal Planning Precedents'', 7.3) | ||
Immediately after this clause, the student should insert the clause “I direct my Trustee to hold that property on the following trusts:” See the sample will template in | Immediately after this clause, the student should insert the clause “I direct my Trustee to hold that property on the following trusts:” See the sample will template in 2020 CLEBC ''Wills and Personal Planning Precedents'', 48.2, to better understand how this would look. | ||
==== b) Payment of Debts ==== | ==== b) Payment of Debts ==== | ||
