Which bequests take priority - named assets or named amounts?

RichieRuin

Registered User
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29
My father died a couple of months ago. I am his executor. He left his house to me and specified amounts of money to each of my siblings. However, in the 10+ years since he made the will, the house has doubled in value while his savings have halved. I am wondering what is the legal situation regarding which bequests take priority, i.e. does the house have to be sold in order to honour the specific bequests, or do I get to keep the house and my siblings each get half of what they were promised?
 
I am a big fan of being an Executor without using a solicitor but only in straightforward cases.

You should consult a solicitor who would have all the information on which to advise you including seeing the entire will.

You can continue acting as Executor of course.
 
The manner in which the will is worded is likely the big issue in this case.
I would agree with Brendan absolutely. Professional advice should be sought.
 
Yes, take professional advice.

In general, bequests of specific assets — usually land — take precedence over bequests of a stated value, which in turn are paid out before residual bequests.

So, the will says "I leave my farm blackacre to my son A, the sum of €250,000 to my son B and the rest of my estate to my son C". The estate consists of Blackacre; farm machinery and livestock with a value of €50,000 and investments with a value of €100,000. A gets Blackacre; B gets €150,000, which includes the sale proceeds of the stock and machinery (or he can get the stock and machinery itself), and C gets nothing.
 
Thanks for the replies. I have already engaged a solicitor to deal with the estate (never occurred to me to do otherwise) and I will of course be asking them about this. I just wanted to get other people's input.

FWIW, the wording is - "I give devise and bequeath the sum of €x to A for their own use and benefit, I give devise and bequeath the sum of €y to B for their own use and benefit", etc. and then "I give devise and bequeath my dwelling house to C for their own use and benefit". It doesn't say anything about prioritising one thing over another and there are no if/then conditions.