TY, THE HUS- TERMINING ON BANKRUPTCY, &c. Income during the wife's life, to be for her separate use; -after her death for the be outlawed, solvent, or assign, or marry again. OF PERSONAL- nature (g): AND DO AND SHALL, during the life of the said C. D., pay and apply the interest, dividends, and annual proINTEREST DE- duce of the said trust monies, stocks, funds, and securities to &c., [trust for the wife's separate use, supra, p. 315]; AND FROM AND AFTER the death of the said C. D., in case the said A. B. shall then be living, and shall not then be an outlaw, or an uncertificated bankrupt, and shall not previously have become an insolvent debtor within the meaning of any act of parliament for the relief of insolvent husband, till he debtors, and shall not have assigned, charged, or incumbankrupt, or in- bered the interest, dividends, and annual produce of the said trust monies, stocks, funds, and securities, or any part thereof, and shall not have done any act or thing whereby the said interest, dividends, and annual produce, or any part thereof, might (if the same had belonged absolutely to the said A. B.) have been in anywise assigned, charged, or incumbered, do and shall pay the said interest, dividends, and annual produce of the said trust monies, stocks, funds, and securities to, or permit the same to be received by, the said A. B. during his life, until he shall be outlawed or be found or declared a bankrupt, or become an insolvent debtor within the meaning of some act of parliament for the relief of insolvent debtors, or shall assign, charge, or incumber the said interest, dividends, and annual produce, or some part thereof, or shall do some act or thing whereby the said interest, dividends, and annual produce, or some part thereof, might (if the same belonged absolutely to the said A. B.) be in somewise charged, assigned, or incumbered (h), or until he shall marry again, whichever event shall first happen: AND FROM AND AFTER the death of the said C. D., in case the trust hereinbefore declared for the benefit of the said A. B. and his assigns shall not take effect, and from and after the determination of the same trust in case the same shall take effect, do and shall stand and be possessed of and interested in all and singular After determination of the pre ceding trusts, funds to be upon usual trusts for the children of the marriage. (9) As to the investment and variation of securities, see supra, p. 313, n. (ƒ). (h) See supra, p. 367, n. (a). TY, THE HUS- INTEREST de- TERMINING ON &c. the said trust monies, stocks, funds, and securities, and the OF PERSONALinterest, dividends, and annual produce thereof, IN TRUST for all and every or, &c., [for the children, as the husband and wife or the survivor shall appoint, and, in default of appointment, for the children, who, being sons, shall attain twenty-one, or, being daughters, shall attain that age or marry, equally, supra, p. 317 et seq. Hotchpot clause, supra, p. 319]: PROVIDED ALWAYS, and it is hereby agreed and Advancement declared between and by the parties to these presents, clause. that it shall be lawful for the said E. F., G. H., I. K., and the survivors and survivor of them, and the executors or administrators of such survivor, at any time or times during the life of the said C. D., and before the trust hereinbefore declared for the benefit of the said A. B. shall have become incapable of taking effect, if the said C. D. and A. B. shall so direct, and at any time or times during the life of the said C. D., and after the trust hereinbefore declared for the benefit of the said A. B. shall have become incapable of taking effect, if the said C. D. alone shall so direct, and at any time or times after the death of the said C. D., and during the continuance of the trust herein before declared for the benefit of the said A. B., if the said A. B. shall so direct, or at any time or times after the death of the said C. D. in case the said last-mentioned trust shall not take effect, or at any time or times after the determination of the same trust if the same shall take effect, if the said trustees or trustee for the time being shall in their own discretion think proper so to do, to levy and raise any part or parts of the then expectant or presumptive or then vested share or shares of any child or children of the said intended marriage, under the trusts herein before declared, not exceeding in the whole for any one such child one moiety or equal half part or share of his or her then expectant or then vested share, and to pay and apply the same for his, her, or their preferment, advancement, or benefit, in such manner as the said E. F., G. H., and I. K., or the survivors or survivor of them, or the executors or administrators of such survivor, shall in their or his discretion think TY, THE HUS- TERMINING ON &c. Maintenance clause. OF PERSONAL- fit (i): AND IT IS HEREBY agreed and declared between and by the parties to these presents, that the said E. F., INTEREST DEG. H., and I. K., and the survivors and survivor of them, BANKRUPTCY, and the executors or administrators of such survivor, do and shall, from and after the decease of the said C. D., in case the trust herein before declared for the benefit of the said A. B. shall not take effect, or from and after the determination of the said trust in case the same shall take effect, pay and apply the whole or such part as the said E. F., G. H., and I. K., or the survivors or survivor of them, and the executors or administrators of such survivor, shall think fit of the interest, dividends, and annual produce of the share or respective shares to which any child or children of the said intended marriage shall or may for the time being be entitled in expectancy under the trusts hereinbefore declared, for and towards the maintenance and education of such child or children respectively (k), and do and shall &c. [Accumulation clause, supra, p. 321]: PROVIDED ALWAYS, nevertheless, and it is hereby agreed and declared between and by the parties to these presents, that, in case the said A. B. shall die in the lifetime of the said C. D. leaving any child or children of the said intended marriage, and the said C. D. shall marry again, it shall be lawful for the said C. D. before such second marriage, by any deed under her hand and seal, to revoke all or any of the trusts hereby declared of or concerning any sum not exceeding the sum of £, part of or to be raised out of the said sums of £- and £- and the said Accumulation clause. Power to the wife, if she sur vive the hus band, to settle a part of her property on a second mar riage; -l. cent. one-fourth part of the said sum of £- (i) See supra, p. 320, n. (1). (k) See supra, p. 321, n. (m). TY, THE HUS- TERMINING ON &c. but, subject to the trusts of such second settlement, the property is to remain subject her then intended husband, and all or any of the children of OF PERSONALher then intended marriage, or any of such objects as she the said C. D. shall think fit, and either with or without INTEREST DEsuch powers of appointment to all or any one or more exclusively of the other or others of the children of the said then intended marriage, and such powers of advancement, maintenance, and education and accumulation, and such powers of investment upon the stocks, funds, or securities herein before mentioned, and of altering and varying such stocks, funds, and securities, and such powers of appointing new trustees, and such other usual powers as the said C. D. shall think fit, all such powers to be vested in such person or persons, and to be exercised with such consent or at such discretion, and in such manner as the said C. D. shall think fit; AND IT IS HEREBY agreed and declared between and by the parties to these presents, that, subject and without prejudice to the trusts, intents, purposes, and powers, which, under the powers of revocation and new appointment last hereinbefore contained, shall be declared and created by the said C. D., the said tlement. sum not exceeding £, the trusts whereof shall be so revoked, shall go and be held upon and for the trusts, intents, and purposes, and with, under, and subject to the powers, provisoes, and declarations, upon, for, with, and subject to which the same premises would have been held under these presents in case the aforesaid powers of revocation and new appointment had not been inserted in these presents (1) PROVIDED ALWAYS, and it is hereby agreed and declared between and by the parties to these presents, that if there shall be no child of the said intended marriage who, being a son, shall attain the age of twenty-one years, or, being a daughter, shall attain that age or marry (m), the said E. F., G. H., and I. K., their executors, administrators, : (7) See another form of this power, infra, Precedent VII., and a general power to appoint part of the funds, infra, Precedent VIII. (m) See supra, p. 322, n. (n). to the trusts of the present set Trusts in default of any child of the marriage becoming entitled. TY, THE HUS- TERMINING ON &c. vive her hus band, for her absolutely; -but if she die in his lifetime, as she shall by will appoint; OF PERSONAL- and assigns, shall stand possessed of and interested in the said trust monies, stocks, funds, and securities, and the interest, INTEREST DE- dividends, and annual produce thereof, or so much thereof BANKRUPTCY, respectively as shall not have become vested or been applied under any of the trusts or powers herein contained, If the wife sur- UPON THE TRUSTS following, (that is to say), IF THE SAID A. B. shall die in the lifetime of the said C. D., then, from and after his death and such default or failure of children as aforesaid, which shall last happen, IN TRUST for the said C. D., her executors, administrators, and assigns; BUT IF THE SAID C. D. shall die in the lifetime of the said A. B., then, from and after the death of the said C. D. and such default or failure of children as aforesaid, which shall last happen, (but subject and without prejudice to the trust herein before declared for the benefit of the said A. B., in case the same shall have taken effect), upon and for such trusts, intents, and purposes, and with, under, and subject to such powers, provisoes, and declarations, as the said C. D., notwithstanding her coverture, shall, by her last will and testament or any codicil or codicils thereto, or any writing in the nature of or purporting to be a will or codicil, -and in default direct or appoint; AND IN DEFAULT of such direction or of appointment, appointment, and so far as no such direction or appointment -as to one moi- shall extend, as TO ONE EQUAL MOIETY or half part of the ety for the husband absolutely; said trust monies, stocks, funds, and securities, and the interests, dividends, and annual produce thereof, or of so much thereof respectively as shall not have become vested or been applied under any of the trusts or powers herein contained, upon trust for the said A. B., his executors and administrators, AND AS TO THE OTHER MOIETY or equal for the husband half part of the same trust monies, stocks, funds, and securities, do and shall pay the interest, dividends, and annual produce thereof to, or permit the same to be received by, the said A. B. and his assigns during his life; AND AFTER his death do and shall stand and be possessed of and interested in the same moiety upon trust for the wife of her such person or persons as at the death of the said A. B. would have become entitled thereto under the statutes -as to the other moiety, for life; -and after his death, for the next of kin of own blood. |