I would be interested for views on the following.
I am dealing with the winding up of a life interest trust. The husband of the deceased was left a life interest in property. The will states that on his death various legacies are to be paid and the balance of the fund is dealt with as follows:
“My Trustees shall divide the residue of the Property Fund equally between such of my children who survive me namely X, Y, and Z but if any of them should die before me or my husband leaving a child or children who survive the survivor of my husband and myself then that child or those children shall on reaching 18 take equally if more than one the share of the Property Fund their parent would otherwise have taken.”
The first part of the clause suggests that the children’s interests vested on the first death (all children survived their mother) but the second suggests they have to survive the second death (two died before the husband).
The legacies that are payable now are expressed to be paid to grandchildren living at the second death. There are no file notes available which may shed light on the testatrix’s intentions.
The beneficiaries of the deceased children’s estates are not their own children.
Does anyone have any view on how the clause should be construed?