I am dealing with an estate where the deceased left under her will the following:
“…all my share and interest of and in the freehold land and premises situate and known as … to my granddaughter … absolutely together with all trade fixtures and fittings and together with all stock-in-trade and together also with the goodwill (if any) if the business … carried on by me at the said property…”
There is a business account which has a substantial balance of cash in it. My query is that as the gift does not mention the bank balances and the business account was held in the sole name of the deceased it does not form part of the gift but instead goes to the residuary beneficiaries and not the beneficiary of the business.
Is this correct?
Phoenix Legal Group