What is a specific distribution gift-over?
A specific distribution gift-over is a customized gift-over to people, classes or charities. It allows you to break-down the gift-over further, with more detailed specifications. Specific Distribution gift-overs will be most frequently used in the No Descendants Scenario. Here’s an example:
“I want to leave 50% to my parents and if they are not alive to my siblings and if any of them are not alive to that predeceased sibling’s issue.”
The original gift would be the parents. Then there would be a gift-over to "Other Class Members" (i.e. the other parent if one parent predeceased) and then a second gift-over of a Specific Distribution - to Siblings. Then there would be a gift-over in that gift to “Beneficiary’s Issue”.
How do I make a specific distribution gift-over?
- Add a gift (drag and drop an asst or add a cash gift in the Initial Gifts section or add a segment and a gift within that segment in the Residue section).
- Scroll to the bottom and select "+Add" under "Gift-Over".
- Choose "Specific Distribution" as the gift-over from the drop-down list.
- Click "+Add Gift" and fill in the details of that gift.
- Add further gift-overs to that gift if you wish to do so.