OF WIFE'S WITHOUT TRUSTS FOR With ultimate trust for next of kin of wife. Declaration of trust of other upon similar trusts to the leasehold. TRUST for such person or persons and in such manner as the said A. B. and C. D. shall by any deed or deeds jointly appoint AND in default of and until such appointment, and so far as any such appointment shall not extend, IN TRUST with and out of the rents and profits of the said premises to pay the rents and observe and perform the covenants by and in the said leases reserved and contained, and on the lessees' part to be paid, observed, and performed; and subject thereto, IN TRUST for the said C. D. during her life for her separate use, and after her death IN TRUST for the said A. B. if he shall survive the said C. D. during his life, AND after the death of the survivor of the said A. B. or C. D., IN TRUST for such person or persons and in such manner as the said C. D. by any deed or deeds or by her will shall appoint, and in default of and until such appointment, and so far as any such appointment shall not extend, In trust for the person or persons who under the statutes for the distribution of the effects of intestates would have been entitled thereto at her death if she had died possessed thereof intestate and without having been married, such persons if more than one to take as tenants in common in the shares in which the same would have been divisible between them under the said statutes. 3. THE trustees shall stand possessed of the stocks, funds, personal estate and securities specified in the third schedule to these presents, IN TRUST for the said C. D., until the said intended marriage shall be solemnized, AND after the solemnization thereof shall either retain the same or with the consent in writing of the said A. B. and C. D. during their joint lives, and of the survivor of them during his or her life, and after the death of such survivor at the discretion of the trustees, sell, call in, and convert into money the same, and invest the moneys to arise thereby, with power with such consent, or at such discretion as aforesaid, to vary the investment thereof; AND shall stand possessed of the said stocks, funds, and securities, and the investments for the time being representing the same, IN TRUST to pay the income thereof to the said C. D. during her life for her separate use, &c. (similar trusts to those of leaseholds in Article 2). 4, 5. (Investment and appointment of new trustees clauses, suprà, pp. 293 to 296.) IN WITNESS, &c. THE FIRST SCHEDULE ABOVE REFERRED TO. (To comprise the freehold property.) OF WIFE'S PROPERTY WITHOUT TRUSTS FOR CHILDREN. THE SECOND SCHEDULE ABOVE REFERRED TO. THE THIRD SCHEDULE ABOVE REFERRED TO. (To comprise the stocks and securities and other personal estate.) No. XXV. SETTLEMENT of FURNITURE (a) belonging to the WIFE OF FURNITURE. THIS INDENTURE, made the day of BETWEEN Parties. assigns furni C. D., of, &c. (intended wife), of the first part, A. B., of, &c. Intended wife (intended husband), of the second part, and E. F., of, &c., and ture to trusG. H., of, &c. (trustees), of the third part: WITNESSETH, tees. that in consideration of a marriage intended shortly to be solemnized between the said A. B. and the said C. D., the said (a) A settlement of furniture is seldom desirable, particularly as, since the Married Women's Property Act, 1882, it will, in the absence of a settlement, remain the wife's separate property. The deed does not require to be registered as a bill of sale. 41 & 42 Vict. c. 31, s. 4. In trust for appointees of wife, and in default OF FURNITURE. C. D., as settlor (with the privity of the said A. B.), hereby assigns unto the said E. F. and G. H. (hereinafter called "the trustees"), all the furniture, chattels, and effects in and about the messuage or dwelling house, No. 1, - Street, in the Town of which are mentioned and specified in the schedule hereunder written: To HOLD the same unto the trustees, IN TRUST for such person or persons and in such manner as the said C. D. shall, notwithstanding her intended coverture, by any writing under her hand or by her will appoint: AND in default of and until such appointment, and so far as any such appointment shall not extend, IN TRUST to permit the said C. D. to use and enjoy the said premises during her life for her separate use, AND after her decease, IN TRUST for her child or children who shall attain the age of twenty-one years, and if more than one in equal shares: AND if there shall be no such child, then In TRUST for the person or persons who under the statutes for the distribution of the effects of intestates would have been entitled thereto at her death if she had died possessed thereof intestate, and without having been married, such persons, if more than one, to take as tenants in common in the shares in which the same would have been divisible between them under the said of and until appointment for wife for her separate use and then for her children or next of kin. Power to trustees to sell. Proviso for indemnity of trustees; and for appointment of new trustees. statutes PROVIDED ALWAYS, that the trustees may at any time, with the consent of the said C. D. during her life, and after her death at their own discretion, sell the said premises hereby assigned or any of them, and in case of any such sale, shall invest the net proceeds in some or one of the stocks, funds, or securities authorized by law as investments for trust funds, with power with such consent, or at such discretion as aforesaid, to vary the said investments into or for others of the same or a like nature: AND shall stand possessed of the said proceeds and the investments thereof upon the same or the like trusts, and with and subject to the same or the like powers and provisions as are herein before declared and contained of and concerning the said premises hereby assigned or such of them as shall be then subsisting and capable of taking effect: PROVIDED ALSO that while the said premises hereby assigned or any of them shall remain in the possession of the said C. D., the trustees shall not be obliged to see to the preservation thereof, nor be answerable for any loss or injury which may happen thereto: AND IT IS DECLARED that the statutory power of appointing new trustees shall be vested in the said C. D. during her life. IN WIT OF FURNITURE. NESS, &c. (or) use for separate use for life, and then for husband for life, children of shall appoint, the and in default ment, equally. and in default of appointment for wife or her next of kin. IN TRUST to permit the said C. D. to use and enjoy the same Trust for wife during her life for her separate use, and after her decease, [IN TRUST to permit the said A. B., if he shall survive her, to and enjoy the same during his life, and after the death of the and then for survivor of them the said A. B. and C. D.,] IN TRUST for such wife, as she child or children of the said C. D., and in such manner as said C. D. shall by deed or will appoint, AND IN DEFAULT of of appointsuch appointment, and so far as any such appointment shall not extend, IN TRUST for all the children of the said C. D. who shall attain the age of twenty-one years to be divided between them fairly and equally as they shall agree, and if they shall be unable to agree then as the trustees shall determine: AND if there shall If no child for be no child of the said C. D. who shall attain the age of twenty- will of wife, appointees by one years, IN TRUST for such person or persons as the said C. D. shall by will, notwithstanding her coverture, appoint, and in default of such appointment, and so far as any such appointment shall not extend, IN TRUST for the said C. D. absolutely, if she shall survive her now intended coverture: BUT if she shall die during her coverture, IN TRUST for, &c. (next of kin, suprà, Power of sale. p. 342). PROVIDED ALWAYS, that the trustees may at any time with the consent of the said C. D. during her life, and after her decease [with the consent of the said A. B. during his life, and after the decease of the survivor of the said A. B. and C. D.] at the discretion of the trustees, sell the said premises hereby assigned or any of them, and either apply the net proceeds in purchasing other furniture, chattels, or effects, or invest the same in, &c. (as in last form), and shall stand possessed of the proceeds and the furniture, stocks, funds, or securities which shall or may be acquired therewith, UPON the same or the like trusts, and with and subject to the same or the like powers and provisions as are herein before declared and contained of and concerning the premises hereby assigned, or such of them as shall be then subsisting and capable of taking effect. (Proriso for indemnity of trustees and appointment of new trustees clause, suprà, p. 342.) SETTLEMENT ESTATE WITH USUAL PROVISIONS. Parties. The old practice was to have several sets of trustees,-one set is now sufficient. No. XXVI. SETTLEMENT of REAL ESTATE, with usual PROVISIONS; CONVEYANCE by the intended HUSBAND of lands and hereditaments to the USE that WIFE may RECEIVE a RENT-CHARGE as PIN-MONEY during joint lives, and subject thereto, to the use of HUSBAND for life, with REMAINDER to the use that WIFE may receive a JOINTURE RENT-CHARGE during her life, and then to TRUSTEES for one thousand years to raise PORTIONS for younger CHILDREN, with remainder to the first and other SONS of the marriage successively in TAIL-MALE; POWER to HUSBAND to charge the ESTATE with JOINTURE and PORTIONS in favour of a future WIFE and of CHILDREN by a future marriage; POWERS ADDITIONAL to those conferred by SETTLED LAND ACT, 1882, and OTHER USUAL PROVISIONS. THIS INDENTURE, made the day of BETWEEN A. B., of, &c. (intended husband), of the first part, C. D., of, &c. (intended wife), of the second part, and E. F., of, &c., G. H., of, &c., and I. K., of, &c. (trustees) (a), of the third part, WITNESSETH and DECLARES as follows: (a) It was formerly the practice in settlements of real estate to have at least two sets of trustees, viz. :-(1) Trustees of the powers of sale and exchange, and for the general purposes of the settlement, and (2) trustees of the jointure and portions term; and if more than one term was created, separate trustees were frequently appointed for each term. The reason for the practice was founded on the law of merger. Before the Act 8 & 9 Vict. c. 106, it was in most cases necessary and proper to limit freehold estates to trustees, in order to preserve contingent remainders, and if any term of years created by the settlement had been limited to the same trustees, there was a risk of the term merging in the other estate thus created; hence it was considered necessary and proper that the trustees to preserve (who were usually the trustees of the power of sale and exchange) should be different from the trustees of the term. And for a similar reason it was considered that if two separate terms were limited to the same trustees, there was a risk of the two terms coming together without the intervention of any other estate, in which case also there would be a merger. But as the limitation to trustees to preserve contingent remainders has now been discontinued, |