VARIATION OF WILL

Press, Volume LXXXI, Issue 24742, 6 December 1945, Page 3

VARIATION OF WILL

DECISION BY SUPREME COURT

Variation of the will of Walter Thomas Yarrall, who died on October 1, 1944, was made in the Supreme Court by Mr Justice Northcroft yesterday. Mr K. M. Gresson appeared for Alister Walter Thomas Yarrall, Thelma Audrey Wilmott, and Jean Yarrall, children of the testator, and Mr R.' J. Loughnan, instructed by the Public Trustee, for the children of Alister Yarrall and Thelma Wilmott,

The sum of £1125 was held by the trustee, and outstanding assets totalled about £3OO, said Mr Grasson. The latter amount would be divided amongst the three children of the testator. Jean Yarrall had a life interest in the amount of £1125 eo long as she remained a spinster. If she married, the amount was to be divided among the testator's three children, and in the event of l>er death between the surviving two children, with the provision that if either or both. predeceased her, their, children would inherit their share. .

Mr Gresson said the three beneficiaries had agreed on an arrangement Wlrich was considered advantageous to* the grandchildren. The arrangement was that the sum of £1125 should be divided equally among them, except that £IOO should be set aside for each of the two families of grandchildren. The chances of the grandchildren inheriting were remote, and their interest would.be extinguished if Jean Yarrall married. If it was considered that the sum of £IOO was insufficient the parties would be willing that £l5O should be set aside for each set of children.

The arguments in favour of the compromise contained too much speculation on the expectation of life, said Mr Loughnan, who doubted whether the compromise was clearly for the beneat of the children. He considered that the suggested £IOO was insufficient, and would ask for £l5O for each family. There were a great many contingencies standing between the children and any benefit they might receive, said his Honour, who said the Court should approve the arrangements. He thought 'the children would benefit, as the parents would receive capital sums that would add to the prosperity and standard of comfort of the homes.l

A suggestion by Mr Loughnan that the Public Trustee should have power to disburse interest to the parents for the benefit of the children was not approved by his Honour, who said it was apparently put forward to save the Public Trustee administrative work. The interest should be accumulated, and If paid out each year would be of no real benefit to the children.