Court Gives £26,000 To Daughters In Will Claim

Press, Volume XCV, Issue 28314, 27 June 1957, Page 18

Court Gives £26,000 To Daughters In Will Claim

(New Zealand Press Association)

PALMERSTON NORTH, June 26. An order for the payment of a lump sum of £lO,OOO to each of two married daughters, and of, £6OOO to a third married daugh-, ter. from the residuary estate of Frederick Spencer Easton, a farmer, of Foxton. was made by! Mr Justice McGregor, in a reserved judgment issued in the. Supreme Court at Palmerston ' North. Easton, who died on February * 28. 1956. at the age of 85, left what his Honour termed a large estate by New Zealand standards? The final balance for death duty s purposes amounted to £362,000.: After payment of duties and administration expenses, the bal-j ance was about £210.000. The eldest son. Steven Patrick Easton, a farmer, of Ohau, re-i ce : ved immediate benefits of| £60.000. and two other sons.! Frederick Spencer Easton and Horace Lascelles Easton, farmers?

[of Foxton, received immediate benefits of £63.400 each, and all ' three would later share in a | Foxton property on the deaths of their sisters, the value of each share being £7550.

Each of the three married daughters received a life annuity of £6 a week.

An application under the Family Protection Act was made by the three married daughters before Mr Justice McGregor in the Palmerston North Supreme Court on May 31, when Mr R. Hardie Boys, of Wellington, appeared for Mrs Rangitoa Mercy Gavin, of Pukerua Bay. and Mrs Miri Darragh, of Feilding; and Mr A. M. Ongley appeared for Mrs Wilson. Mr W. E. Leicester, of Wellington, represented the defendant beneficiaries, and Mr Todd, of Levin, the trustee of - the estate.

i His Honour said the application presented 1 unusual features. The assets could be divided into three parts—farming lands with live and dead stock thereon, at £157,000; a Foxton property valued at £22,650; and the residue of the estate, £30.000.

Under the will and codicil, the farming lands and stock were specifically devised and bequeathed to the three sons. Because of fluctuation in values, there was a slight discrepancy in their respective benefits. Land and stock given to Steven was of the value of £50.088, and that given to the other sons, Frederick and Horace, was of the value of £53,501. The three sons shared equally in the residue.

The Foxton property was devised to the trustees to pay from the income annuities of £6 a week to each of the daughters during their respective lives. Such annuities were free from social security tax and. on the death of the annuitants, the Foxton property fell into residue and was also divisible among the three sons.