Husband predeceases wife and his estate is administered. Wife dies later and in her will leaves a legacy to her deceased spouse’s estate - the actual wording of her will is as follows -
I give my said husband (or his estate if he has predeceased me) a sum of money equivalent to 25% of the open market value of the Property at the time of my death after deducting costs of sale.
As he did predecease her and it doesn’t appear to lapse, does this legacy go to his residuary beneficiaries? Presumably there are no IHT consequences for his estate?
Any help would be greatly appreciated.
Normally, the gift-over (as this is) would be expressed as a gift to the "PRs’ of the deceased legatee as part of the latter’s estate. It would then be the deceased legatee’s will (or intestacy) which determines what happens to the gift.
Lapse in these circumstances doesn’t occur.
No IHT arises on the part of the estate of the deceased legatee because at the date of death of the legatee he/she was not entitled to any part of the testator’s estate.
Malcolm Finney
Thank you Malcolm, that’s very helpful and much appreciated. I presume that the wording used in my query (although not as precise) gives the same effect as in your response.