Wills

[janey_babey]

Can the terms of a will be changed if the person who wrote the will has passed away?

[Stu Dent]

Absolutely not. But certain provisions in the will could be defeated if they fall outwith the law - e.g. in Scotland, Jock cannot leave all his bank savings and art collection (moveable property) to Bobby and leave out J.R., unless of course, JR decides not to challenge those provisions.

[Whickerman]

...unless you mean the person who physically wrote the will (ie the solicitor) in which case, yes.

Just covering all angles.

[dzug]

Yes they can. It's called a Deed of Variation. It can be done (I think) within two years of death but don't quote me on that.

All the beneficiaries of the will have to agree - or at least those who are adversely affected by the proposed changes.

[Androcles]

Deeds of variation are possible - you need to consult a lawyer see :
http://www.fhmanning.co.uk/deedofvariation.htm

[janey_babey]

we have been left some money, but we have to wait till ew are of a certain age to receive the money. the money has been put into an account that has only just matured and will need to be put back into a similar account. it has been six years since the death.

[dzug]

What age? If you are under 18 you cannot receive the money, full stop.

If you are over 18 it's at the discretion of the trustees. I don't believe there is any comeback on them if they give you the money now (is there anyone who would be disadvantaged who could sue them? - probably not), but on the other hand I don't think you can force them if they decide to stick to their original instructions.

A Deed of Variation is irrelevant here - both because of the time and the nature of the change.

[janey_babey]

We are 21 and 23 and the will states that we cannot have the money till we are 30. My dad is the trustee and is happy for us to have the money but thinks he can get into trouble if we have it?????

[dzug]

I don't believe there is anyone he can get in trouble with - the courts do not police the administration of wills. Disaffected beneficiaries or non-beneficiaries do that and then complain to the courts.

If there is no-one who suffers an actual loss as a result of him giving you the money, then he is perfectly safe to give it to you.

It's just possible that there are tax implications - but that's just a question of paying whatever tax is due, not getting into trouble.

[Barmaid]

Is it possible for you to post the exact terms of the trust to you? In certain circumstances it may be improper to pay it early but as dzug says, only the disappointed beneficiares can action it. So much depends on the actual terms of the trust document though (in your case the will).

[fredpuli47]

Provisions such as you have encountered here are very common. A person who makes a will, a 'testator' , ( 'testatrix' if female)) may think that is not a good idea to let a young person get their hands on the money or property until that person is of an age at which the testator/testatrix thinks they'll to be responsible and sensible with it. So they say that the property is to go to X in trust until they are, say, 25 or 30 years old. On reaching that age the person gets the property.

Such a provision is not going to be changed by anyone.

In the meantime, you'll have to settle for being happy that you got something, even if you can't get your hands on it just yet. :)

[dzug]

Such a provision is not going to be changed by anyone

Why not - what is the comeback if someone ignores it? None. The deceased isn't going to sue and no one else has any grounds to.

[Barmaid]

I still believe it depends on the terms of the will.

IF the terms of the will are such that the recipients receive a vested interest on death, but do not receive the legacy until 30 it is correct, it cannot be challenged.

IF the terms of the will are conditional upon the recipients reaching the age of 30 the default beneficiaries could well complain.

It is not a simple question to answer without construing the trust document.

[dzug]

oops sorry - had overlooked the possibility of that type of other beneficiary - which could include your as yet unborn children.

[janey_babey]

thanks for you help!
so where could i go to get 100% proof that i can have the money now?

[Barmaid]

It is NOT that simple janey. It depends on the exact terms of the trust. Even if you take a vested interest at 18, but not to receive the money until 30, there are limited circumstances in which you can be paid the money early (statutory powers of advancement under the Trustee Act 1925). I suggest you pay a solicitor who is experienced in this type of work to advise, but he will need to see a copy of the will. And even then there may not be "100% proof". Its a question of construction of the whole document.