CHANCERY A. B. to receive the interest, dividends, and annual pro- OF A WARD OF duce of the said trust monies, stocks, funds, and securities, when and as the same shall respectively become due and payable during his life (i); AND FROM AND AFTER the decease of the said A. B., upon trust as to all and singular the said trust monies, stocks, funds, and securities, and the interest, dividends, and annual produce thereof, or so much thereof respectively as shall not have become vested or been applied under any of the trusts or powers herein contained, for such person or persons as under the statutes for the distribution of intestates' effects, would, at the decease of the said C. B., have been entitled to the same in case the said C. B. had died possessed thereof, intestate and unmarried, and domiciled in England (k). AND THIS Witnesseth, further, assignINDENTURE ALSO WITNESSETH, that, for the ment by the purpose aforesaid, and in consideration of the premises, he the said A. B. hath assigned, and by these presents doth assign, unto the said E. F., G. H., and I. K., their executors, administrators, and assigns, ALL THAT the share of him the said A. B., in right of the said C. B., of and in the rents, issues, and profits of the said messuage, land, and premises, to accrue due or be received in the meantime and until the said share and interest of and in the said messuage, land, and premises shall be conveyed and assured to the said E. F., G. H., and I. K., their heirs and assigns, according to the covenant hereinbefore contained; AND ALL THE ESTATE, &c.: TO HAVE, HOLD, receive, and take the same rents, issues, and profits, and all and singular other the premises lastly hereinbefore assigned, or expressed and intended so to be, unto the said E. F., G. H., and (i) This provision is unusual in settlements on marriage in contempt; it is deemed better to leave the husband's interest, if he survive his wife, entirely in her disposition. (See Millet v. Rowse, 7 Ves. 419; Bathurst v. Murray, 8 Ves. 74; Birkett v. Hibbert, 3 My. & K. 227; see, too, supra, p. 468). husband to the trustees of the rents and profits wh fits which will accrue on the real estate before the con veyance to them, to be applied as the income of the purchase-mo ney. (k) This provision as to domicile is intended to guard against the effect Domicile. of the rule, that personal property on an intestacy is to be distributed ac cording to the law of the country where the intestate was domiciled at death. It is seldom, however, inserted. CHANCERY AFTER MARRIAGE. interest on bond, to be ap plied as income of purchasemoney and in vestments. OF A WARD OF I. K., their executors, administrators, and assigns, to be applied, nevertheless, upon the same trusts as are hereinbefore declared of the dividends, interest, and annual produce of the said trust monies, stocks, funds, and securities, Rents and pro- the trusts whereof are hereinbefore declared: AND IT fits after conIS HEREBY FURTHER AGREED AND DECLARED, that, after veyance, and before sale and the said hereditaments shall be so conveyed as aforesaid, and before the same shall be so sold as aforesaid, the rents and profits thereof, and also the interest of the share of the said C. B. in the sum of £- -, so secured by the said bond as aforesaid, shall be applied in the same manner as is hereinbefore directed with respect to the interest, dividends, and annual produce of the said trust monies, stocks, funds, and securities: PROVIDED ALWAYS, and it is hereby agreed and declared between and by the parties to these presents, that no child or children, or issue of any child or children, taking any part of the said trust monies, stocks, funds, or securities under or by virtue of any direction or appointment to be made by the said C. B., &c., [hotchpot clause, supra, p. 319 (7)]: PROVIDED ALWAYS, and it is hereby agreed and declared between and by the parties to these presents, that it shall be lawful for the said E. F., G. H., and I. K., and the survivors and survivor of them, and the executors and administrators of such survivor, at any Hotchpot clauses. Special clause for advancement, and for maintenance and education out of the capital, with further provision as to hotchpot. time or times during the lifetime of the said C. B., in case the said C. B. shall so direct, by any writing or writings under her hand and seal, and they the said trustees or trustee for the time being of these presents shall think fit, to levy and raise, by sale or other disposition of a competent part or parts of the said trust monies, stocks, funds, and securities, such a sum of money as to the said trustees or trustee for the time being shall think proper, to be applied for the maintenance, education, and advancement in life, either by marriage or otherwise, of any child or children of the said C. B., either by the said A. B. or any future husband, and in such manner as the said C. B. (1) This and the following clauses for advancement, maintenance, and accumulation are improperly placed. (See supra, p. 480, n. (g)). CHANCERY MARRIAGE. vancement and the trustees or trustee for the time being as aforesaid oF A WARD OF shall think fit; but it is hereby agreed and declared that no greater sum shall be raised, for any one child under the aforesaid power in that behalf, than a moiety of the then expectant or presumptive share of such child in the said trust monies, stocks, funds, and securities, PROVIDED NEVERTHELESS, that no child, for whose use any sum or sums of money shall have been so raised as aforesaid, shall have or be entitled under the aforesaid trusts to any share in the remainder of the said trust monies, stocks, funds, and securities, without first bringing into hotchpot the said monies so paid as aforesaid, and accounting for the same accordingly, unless the said C. B. shall direct to the contrary (m): AND Common adIT IS HEREBY AGREED and declared between and by the par- clause extended ties to these presents, that after the decease of the said C. B. to issue. it shall be lawful for the said E. F., G. H., and I. K., and the survivors and survivor of them, and the executors and administrators of such survivor, at their or his discretion, to levy and raise by the ways and means aforesaid any part or parts of the then expectant or presumptive share or shares of any such child or children or issue as aforesaid, of and in the said trust monies, stocks, funds, and securities under the trusts hereinbefore declared, not exceeding in the whole for any one such child one moiety of his, her, or their expectant portion or portions, and to pay and apply the same for his, her, or their preferment, advancement, or benefit, in such manner as the said trustees, or the survivors or survivor of them, or the executors or administrators of such survivor, shall in their or his discretion think fit: AND IT Maintenance IS HEREBY AGREED and declared between and by the parties to these presents, that the said E. F., G. H., and I. K., and the survivors and survivor of them, and the executors and administrators of such survivor, shall, after the decease of the said C. B., pay the whole or such part as the said trustees, or the survivor of them, or the executors or administrators of such survivor, shall think fit, of (m) This very unusual clause will of course not be inserted, unless by special direction. clause extended to issue. CHANCERY AFTER MARRIAGE. clause. Power for the vive her hus band, to settle part of the funds on a second marriage. OF A WARD OF the interest, dividends, and annual produce of the share or respective shares to which any child or children, or issue of any deceased child or children, of the said C. B. shall or may for the time being be entitled in expectancy of and in the said trust monies, stocks, funds, and securities under the trusts hereinbefore declared, to be applied for or towards the maintenance and education of such child or children or issue respectively, in the meantime and until such his, her, or their portion or portions shall become Accumulation vested and payable, AND DO AND SHALL, &c., [Accumulation clause, supra, p. 321]: PROVIDED ALWAYS, and it is hereby wife, if she sur- 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. B., it shall be lawful for the said C. B. to appoint any part of the aforesaid trust monies, stocks, funds, and securities, not exceeding in the whole one third part, to or for the benefit of any husband whom the said C. B. may afterwards marry, and the children or child of any future marriage, so that the same appointment be with the consent of the trustees or trustee for the time being of these presents, and so that the husband of the said C. B. do not take any greater interest therein than a life interest in the dividends and annual produce of the share which may be so appointed of the said stocks, funds, and securities: PROVIDED NEVERTHELESS, that no child taking any benefit under any appointment to be made as last aforesaid, shall have or be entitled to any share in the residue of the said trust monies, stocks, funds, and securities, without bringing the share which such child may so take into hotchpot, and accounting for the same accordingly, unless the said C. B. shall by writing direct to the contrary (n); Hotchpot clause as be tween the children of the pre sent and such second marriage. Mode of providing for the husband and children of a second mar riage. (2) The mode adopted in this settlement of providing for the husband and children of a second marriage appears very awkward; it would be better to confine the trusts of this settlement to the children of the present marriage, and then to give the wife a power only of settling a part of the fund on the husband and children of a second marriage. (See Bathurst v. Murray, 8 Ves. 74; Birkett v. Hibbert, 3 My. & K. 227, and supra, p. 469, n.). Forms of such a power, more elaborately drawn than that in the text, will be found supra, pp. 378, 420. CHANCERY AFTER MARRIAGE. PROVIDED NEVERTHELESS, and it is hereby agreed and de- OF A WARD OF clared, that, notwithstanding the trusts, provisions, and declarations hereinbefore contained, the residue of the said sum of £,-. per cent. Annuities, after deducting there- Proviso that out such sum as aforesaid, shall, pursuant to the said order remain in the of the day of last, be and remain in the Bank to name of the Accountantto the account to be inti- General of the the stocks shall cery; and the other trust monies, as received, shall be laid out in his name; the credit of the said cause tled "The marriage settlement account of C. B.;" AND THAT Court of Chanwhen the clear surplus of the monies to arise from the sale of the said hereditaments and premises hereinbefore directed to be sold, and also the aforesaid share of the said sum of £—, shall be received, an application shall be made to the said court in the said cause for an order that the same shall be paid by the said trustees into the Bank of England, in the name of the Accountant-General, to the credit of the cause to the like account, and shall be invested in the purchase of stocks, as is usual in like cases, to remain in the Bank to the credit of the said cause -the dividends to be paid to the wife for life; tees or other to be transferred to the said account to be entitled "The marriage settlement account of the said C. B.;" AND THAT the dividends of all the said stocks shall from time to time, as they become due, be paid to the said C. B. for her separate use as aforesaid, for her life, or until the further order of the Court; BUT, NEVERTHELESS, the trus--and the trustees or trustee for the time being of these presents, or parties to apply any other of the parties interested in the trust premises, for the funds shall be at liberty from time to time to apply to the said for the purposes Court of Chancery for an order or orders for the transfer of of the trust. the said stocks or funds, or any part thereof, to the trustees or trustee for the time being of these presents, if and whensoever it shall become necessary that any such transfer or transfers should be made, in order that the said stocks or funds may by such trustees or trustee be applied to the uses, intents, and purposes in and by these presents ex when needed, pressed and declared of and concerning the same (o): AND Covenants by (0) The introduction of a provision of this nature appears to be required only in cases of flagrant contempt. (See Millett v. Rowse, 7 Ves. 419). |