Trevor Morris has been with his girlfriend, Rachel Moore, for 5 years. They have recently purchased a property together and he feels it is the right time to make a Will. However, he is planning on proposing to Rachel soon. He doesn’t want to wait until they are married to create his Will as he is not 100% sure when/if they will get married. We have suggested that he do a multipart Will to cover both scenarios – if the marriage goes ahead and if it doesn’t.
He would like the following:
- His uncle, Liam, and his friend Trevor Jones to act as executors
- If Liam and Trevor are predeceased, then he would like his brother, Ryan Morris and his wife, Sarah, to act as executors
- If Ryan and Sarah are predeceased, he would like his cousins Brendan & Sophie Guthrie to act as executors
- If that then fails, he would like to appoint your firm as executor
- He would like to be buried and the cost of the memorial covered by his estate if his executors choose
- He would like to make an in-memoriam gift to Battersea Dogs and Cats Home
If the marriage does go ahead, he would like the following:
- He would like gift his model train collection to his nephews, giving them the choice in turns on which they would like. Starting with his oldest nephew, Michael Morris, then the middle nephew Jason and lastly, the youngest, Steven.
- He would like his residuary estate to be held on a flexible life interest trust for Rachel (to get the IHT spouse exemption), with his trustees having the power to pass assets to his son Phillip Morris during Rachel’s lifetime if she does not have need for them. After Rachel’s death Trevor would like his residuary estate to be held on discretionary trust terms for the benefit of Phillip, any future grandchildren, and his brother Ryan.
If the marriage doesn’t go ahead, he would like the following:
- He would like gift his model train collection to his nephews, giving them the choice in turns on which they would like. Starting with his oldest nephew, Michael Morris, then the middle nephew Jason and lastly, the youngest, Steven.
- He wants to make sure that if Rachel has needs, such as for healthcare, that his trustees can use his assets to meet those but ultimately, he wants his residuary estate to benefit his son and future grandchildren. He would therefore like the residue to go into a Discretionary Trust to for the benefit of Rachel, his son, Phillip, and any future grandchildren. The default beneficiary is to be his brother Ryan.