We are dealing with a Will (not drafted by our firm) containing the following legacy:
“I give to them my children A, B and C in equal shares such maximum sum whether it be cash monies at Savings Accounts Bank Accounts or Building Society Accounts or from the proceeds of sale of any land or shares as may be transferred by me at the date of my death free of Inheritance Tax or any other Capital Tax chargeable at my death.”
I would be grateful for members’ views on whether this legacy includes relievable business assets.
I am led to believe that this was not the testator’s intention, and the words following “whether it be” suggest to me that the legacy is limited to those sources (i.e. cash)