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Ok - the situation - theres a death - theres a will and the will passes all worldly goods (house and contents) to the deceased's wife and two trustees (2 sons)
The house and contents are to be split between the wife (50%) and the the two trustees (50%) on the basis that the wife can live and use the house and the trustees will manage the house in her interest.
All parties can agree to sell the house so long as the proceeds are used to buy another home for the wife and this entity would now be the thing held in trust. When she dies the whole property passes to the trustees.
Seems simple enough. The question is - does the Trust exist, legally, because the Will says there is to be one, and who the trustees are, and what the entity in trust is... or is the Trust something that needs to be created, as a legal entity or document, once the will comes into effect?
Exists the will creates the trust.
magic
Seems simple enough. The question is - does the Trust exist, legally, because the Will says there is to be one, and who the trustees are, and what the entity in trust is... or is the Trust something that needs to be created, as a legal entity or document, once the will comes into effect?
Trusts are one of those arcane legal areas. It's worth getting an hour's advice from a lawyer who deals with this type of work. I have a suspicion, but no useful knowledge so shan't opine in case it's wrong!
Spend a couple of hundred quid and get a clear answer.