by hoobook  11/06/2005  1635 Page Views
6 Comments  Wills, probate, letters of administration, powers of attorney

I am 67 and have  been married for 10 years and have property and other assets, accumulated over my life and have increased during my current marriage. I have no problem with the normal state of affairs that in the event of my death my wife would have an entitlement to the benefits of my estate. However in the event of her death, if after me, I would be most upset( in absentia!!!) that my life's savings might be distributed to her relatives or a future husband. My options appear limited in that I could distribute, in my will, 50% of my estate to my sons and/or their heirs, and 50% to my wife and leave it at that.

My preferred alternative would be that I might be able to appoint a trustee to administer the whole of my estate, for my wife's benefit during her lifetime, in terms of interest on deposits, accommodation, and liquidity, ( I also have significant superannuation benefits which accrue to her on my death, and would expect that to provide her with ample funds for her normal expectations ).

My theory is that, I could direct the trustee to act on my instructions at the death of my wife to then distribute the proceeds of the trusteeship to my sons or their heirs.

Is this second option a legal method of administering an estate?