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BEQUEST OF A SCHOLARSHIP....

Problem: Widow of a company's director needed help to dispose of the business and raise funds for a university scholarship in her late husband's name.

Advice: We started by rescinding (where-ever possible) contracts, acting in our agreed capacity as agent for the directors. We sold all of the company's assets and saleable contracts. We arranged for the purchase of a house on behalf of the widow and her sister at a substantial discount, since the sister was a long standing council tenant. By agreeing suitable wording of the wills of both sisters, it was possible to provide funds for the creation of the scholarship in the late husband's name at Oxford University . The widow passed on, a year later and Oxford University have established the first scholarship in her husband's name, in accordance with her wishes. Her sister made a provision in her Will for the sale of the house purchased and to bequest additional funds to the Oxford University scolarship that was established under her sister's Will..

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