or of any municipality created by any such State, all policies of insurance, and all debts, moneys, and personal property due or belonging to me at the time of my decease, or which may become due or belong to my estate thereafter not collectible by my English executors by virtue of the grant of letters testamentary to them by any of the Courts of Great Britain. OF PROPERTY IN ENGLAND AND AMERICA. executors. 2. I APPOINT G. H., of, &c., and I. K., of, &c., to be my and of English English executors to administer all my personal estate other than what is hereinbefore directed to be administered by my American executors. American 3. I DEVISE all the real estate of every sort and kind situate Devise of property in in any part of the United States of America belonging to me or America to over which I have any power of disposition unto the said C. D. trustees in and E. F., In trust without any more delay than is consistent trust to realize. with the realization of reasonable prices to sell and dispose of all the said real estate and of all that they may acquire after my decease in any way or manner at public or private sale with power to make good deeds of conveyance thereof in fee simple or for any less estate without any obligation on the part of the purchasers to see to or be responsible for the application of the purchase-moneys, and with power as regards any real estate agreed to be sold in my lifetime to perfect the title thereto, and convey the same to the purchasers thereof. executors and remit money trustees. 4. My American executors and trustees shall remit to my American English executors and trustees all moneys arising from the sale trustees to of my real estate in America, and from the collection and con- to English version of my personal estate in America, except so much executors and thereof as may be required for payment of my debts in America and the expenses of administering my estate in America, and the receipt of my English trustees for all moneys remitted to them as aforesaid shall be a sufficient discharge for the same. England to English trustees in estate in 5. I DEVISE and bequeath all my real estate and chattels real Devise and bequest of real in England or Wales, and all my personal estate other than and personal what is herein before directed to be administered by my American trustees, unto the said G. H. and I. K. (hereinafter called "my English trustees "), In trust to sell, call in, and convert into money the same at such times and in such manner as they shall think fit. trust to sell and convert. 6. My English trustees shall stand possessed of all moneys Trusts of arising from the sale and conversion of my real and personal received by moneys OF PROPERTY estate hereinbefore devised and bequeathed to them, and of all AND AMERICA. moneys remitted to them by my American executors and trus IN ENGLAND English trustees. tees as aforesaid, upon the trusts following (that is to say), My English trustees shall with and out of the same pay my funeral and testamentary expenses and debts (except such debts as shall be paid by my American executors and trustees), and the legacies bequeathed by this my will, and shall invest, &c. (Trusts for investment and remainder of will as in Precedent No. II., suprà, pp. 535 to 538, substituting "my English trustees" for "my trustees"). IN WITNESS, &c. OF A MARRIED No. XVII. WILL of a MARRIED WOMAN: APPOINTMENT by her under a power contained in a SETTLEMENT of TRUST MONEYS in favour of her HUSBAND for life, and after his decease in favour of her CHILDREN, with PROVISO that SHARE of SON shall be retained on SPECIAL TRUSTS to prevent ALIENATION as far as possible, and RESIDUARY Bequest to HUSBAND. I, A. B. (testatrix), the wife of, &c., HEREBY DECLARE this to be Recite settle- my last will and testament: WHEREAS, &c. (Recite settlement ment. Number of children. whereby trust funds were settled on testatrix for life, and after her death on her children, as she should appoint, with power to appoint a life interest to her husband): AND WHEREAS I have eight children now living, all of whom have attained the age of twenty-one years, Now in exercise of the powers for this purpose given to me by the said indenture, and of all other powers Appointment (if any) me hereunto enabling, I hereby direct and appoint that the trustees or trustee for the time being of the said indenture shall, after my decease, stand possessed of all the moneys, stocks, funds and securities for the time being, subject to the trusts thereof (hereinafter called "the trust fund hereby appointed"), UPON TRUST to pay the income thereof to my said husband, if he shall survive me, during his life, and after his decease, IN TRUST for all my children living at my decease, in equal shares, of trust moneys pursuant to power. To husband for life. After his decease for children of testatrix. WOMAN. share of son retained upon against subject as to the share of my son D. B. to the following provi- oF A MARRIED sions (that is to say): PROVIDED ALWAYS and I declare that if my son D. B. shall survive me, the said trustees or trustee shall Proviso that retain his share of the trust fund hereby appointed, and pay the shall be income thereof to the said D. B. until his death, or until the special trusts expiration of a term of twenty-one years computed from my alienation, &c. death (a), or until he shall become bankrupt, or assign or charge the said income, or some part thereof, or do or suffer something whereby the said income, if belonging absolutely to him, or some part thereof, would become vested in or payable to some other person, whichever of the aforesaid events shall first happen; and from and after the determination of the foregoing trust (hereinafter referred to as "the first trust "), shall hold the said share IN TRUST as follows (that is to say) :-If the first trust shall determine by reason of the expiration of the said term of twentyone years in the lifetime of the said D. B., then IN TRUST for the said D. B. absolutely; AND if the first trust shall determine by reason of the death of the said D. B. before the expiration of the said term, then IN TRUST for such person or persons, and in such manner as the said D. B. shall by his will appoint; and in default of such appointment, and so far as any such appointment shall not extend, IN TRUST for my other children in equal shares AND if the first trust shall determine in the lifetime of the said D. B., and before the expiration of the said term, by reason of his bankruptcy or of any such other event as aforesaid, then IN TRUST for my other children in equal shares: AND Gift of residue I GIVE all income which may be owing to me at my death, in- of property to cluding the proportionate part belonging to my estate of the absolutely and appointment income of the trust fund hereby appointed for the current half- of him to be year in which my death happens, and all other (if any) the property belonging to me at my death for my separate use, and which I have power to dispose of by will, unto my said husband absolutely: AND I APPOINT my said husband to be the executor of this my will. IN WITNESS, &c. (a) This limit is inserted in order to prevent the application of the rule against perpetuities. husband executor. VOL. II. PP OF A TRADER. Devise and bequest of property to trustees for sale and conversion. Powers to trustees to continue or wind up special powers as to management of business. No. XVIII. WILL of a TRADER carrying on BUSINESS by himself, containing DIRECTIONS as to his business. I, A. B., of, &c. (Commencement of will and appointment of executors and trustees, and gift of legacies, suprà, p. 534): I GIVE, residue of real DEVISE, AND BEQUEATH all my property not hereby otherwise and personal disposed of unto my trustees, UPON TRUST that my trustees shall (subject to the directions hereinafter contained with respect to my business) sell, &c. (Trusts for sale and conversion, and trusts of proceeds, as in Precedent No. II., suprà, p. 535). And with respect to the business of a now carried on by me at aforesaid, or any other business in which I may be engaged business, with at my decease, I empower my trustees to continue the same for so long as they shall think fit, or to discontinue the same at any time and to wind up the affairs thereof, with liberty for my trustees if and so long as they shall continue the business to employ therein the whole or any part of the capital which shall be employed therein at my decease, and also such further part (if any) of my estate as they shall think proper, and with liberty also to employ managers, agents, and clerks, and also to admit any person or persons as a partner or partners with them in the business, and generally to act in the conduct of the said business as they shall in their absolute discretion think fit, without being answerable for any loss arising thereby. And (subject to the provisions herein before contained as to the said business) I authorize my trustees to postpone the sale and conversion of my property, or any part thereof, for so long as they shall think fit, and I declare that the rents, profits, and income of my property for the time being remaining unsold and unconverted (including the profits of the said business while carried on by my trustees) shall be paid, &c. (Rest of will as in Precedent No. II.) IN WITNESS, &c. No. XIX. WILL of a person carrying on a TRADE in PARTNERSHIP OF A PARTNER, with other persons, containing DIRECTIONS as to WIND ING UP the BUSINESS. WITH DIREC- WINDING UP estate to I, A. B., of, &c. (Commencement of will and appointment of executors and trustees, and guardians, suprà, p. 534: Bequest of legacies) I GIVE, DEVISE, AND BEQUEATH all my property, Devise and whether real or personal, not hereby otherwise disposed of, unto residue of real bequest of my trustees, UPON TRUST that my trustees shall (subject to the and personal directions hereinafter contained with respect to my partnership trustees for business) sell, &c. (Trusts for sale and conversion: Trusts of conversion. proceeds as in Precedent No. II., suprà, p. 535); AND with Power to respect to my share and interest in the business of carried on by me at in partnership with sale and trustees to now wind up share of testator in (names), partnership business. under the firm of and Co., I empower my trustees to adjust and settle all accounts and transactions relating to the said partnership business, and to wind up the affairs and concerns thereof, and ascertain the amount of my share and interest therein, either according to the provisions of the articles of partnership under which the said business shall be carried on at my decease, or upon such other terms and in such other manner as may be agreed on between them and my surviving partners or partner, with power for my trustees to refer to arbitration, or otherwise to compromise or settle any question that may arise in or about the winding up of the said concern, in such manner as they may think fit, and generally to do and execute all such acts and things in relation to the premises as may appear to them necessary or expedient, without being answerable for any loss which may arise thereby: AND I AUTHORIZE my trustees, if Power to they shall in their discretion think fit, to permit the whole or permit tesany part of the amount which on taking the accounts of the capital to said partnership shall appear to be due to my estate, as and for remain in my share and interest in the said business, to remain in the said seven years. business as a loan for any period not exceeding seven years from my decease, but so that the repayment thereof, with interest after the rate of £5 per cent. per annum, shall be secured trustees to tator's share of business for |