Residual Beneficiary in a Will

[Extraspin]

Hi

I am named as a beneficiary in a relatives will. There are debts involved ie: Nursing Home costs and these have to be paid - approx €50k along with funeral costs.

The wording of the will is as follows:

I APPOINT XXXXXX to be the Executor of this my Will (hereinafter called "my Executor").

2. I DIRECT my Executor to pay out of my residuary estate my just debts, funeral and other testamentary expenses including all mortgages, charges and bank overdrafts charged upon my property and all taxes payable upon my decease.

3. I DESIRE that my dwelling house and contents be sold and the net proceeds of sale be divided equally between AAA,BBB and CCC

4. ALL THE REST RESIDUE AND REMAINER of my estate of whatsoever nature and kind and wheresoever situate I GIVE DEVISE AND BEQUEATH unto DDDD, absolutely.

Property Sale: €200,000
Cash Assets:€40,000

The Nursing Home costs become payable out of property sale as there are insufficient cash funds so my question is does the Residual Beneficiary end up with nothing if the sale of property is divided between A,B and C

 

[DannyBoyD]

If there's no residue, there's no residue to inherit.

 

[Extraspin]

If there's no residue, there's no residue to inherit.

Fair answer. So debts get paid from residual first and property sale next to cater for shortfall?

 

[noproblem]

Sad state of affairs for the person who thought they might have got something. But one wonders when writing up a will why things like this aren't pointed out, very unfair unless someone does it deliberately.

 

[DannyBoyD]

Fair answer. So debts get paid from residual first and property sale next to cater for shortfall?

All debts get paid from the estate, then legacies, whatever is left is the residue.