A Will made in 2010 contains a clause which reads
My Trustees shall hold my property X on trust to pay
(1) the net income from the property to A for life and
(2) subject to clause (1) the property shall form part of the residue of my estate.
My interpretation of this is that A is entitled to the income from the property and its proceeds of sale and any replacement property or investments for her life. Is this correct?
Stuart Rowland
Walker Foster