Legal Question in Wills and Trusts in Canada
what is hodgepodge when it comes to creating a WILL?
1 Answer from Attorneys
There is no such thing as "hodgepodge" in a Will. There is something known as "hotch pot". It is a name given to a rule of equity (that is "fairness") that requires a person interested along with others in a common fund, who has already received part of that common fund (for example that person has already got something from the deceased, such as a loan) to surrender what he already had from the common fund, and if he doesn't do so, he doesn't get any of what is left. For example, if the deceased loans you money, you've got to give it back ot in some cases count the loan as part of your share, or you don't share in the estate that's left.
A typical provision in a will would be used to ensure that if money has been loaned out to a child, that child has to pay back, or take as part of his share, the amount of the loan. A typical clause might reasd "Before any of my children takes a share in my residuary estate, he or she is to bring into account and hotchpot all amounts due and owing to me by him or her at the date of my death"
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This is a short answer to a vey complex area. Do not rely on it for advice in a specific situation, but seek advice of a lawyer, providing full particulars.
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