Specific legacy of an asset not in existence


(mnaidoo1) #1

I am drafting a Will for a client who may inherit shares in the family company following his mum’s death. Mum is in good health and not likely to die anytime soon. He would like to make provision in his Will for a specific legacy of these shares to ensure that his wishes are accounted for in the event that he inherits the shares and does not get round to amending his Will. My question is - is it possible to leave a specific legacy of an asset that don’t own at the time of making your Will. I appreciate that if you don’t own the asset at death the gift would adeem.

Mahendree Naidoo
Kingston Smith


(taurean) #2

With the correct wording, I don’t see why not. If I leave ‘such motor vehicles as I shall own at my death’ to my wife, the gift doesn’t fail just because the car I own when I die is not the car I owned when writing my will.

Taurean Drayak
Elliot, Bond & Banbury


(Julian Cohen) #3

It’s just a question of drafting. If he makes a legacy of “…such shares as I own at my death in XYZ Limited” you’ve addressed the situation.

Julian Cohen, Solicitor