WILL INTERPRETATION

Evening Post, Volume CVII, Issue 85, 9 April 1924, Page 9

WILL INTERPRETATION

CONFLICTING CLAIMS,

< The question involved in an application by way of originating summons, heard by Mr. Justice Chapman yesterday, was whether infant grandsons were entitled to interest upon legacies, payable to them on reaching the age of 21. If they were entitled to interest then there was so much less estate left for the benefit of the granddaughters.. If the legacies to the grandsons did not carry ■interest,the granddaughters1; shares were correspondingly increased. ' This question arose in'the will of Martin Pearce, of Caversham', settler.'' " - ' ' Mr. G. G. Rose appeared for"'the Public Trustee, the executor under the will and also for five infant grandsons, and Mr. R. Kennedy for the ten granddaughters concerned. It appeared that the testator died leaving a will in which he provided his trustee should pay £1000 each to each of five grandsons named. His will, however, wenton to provide that each of these legacies to the grandsons should not be paid to the grandsons if the grandsons concerned did not attain tho age of 21 years. In that event the grandson's legacy was to be divided amongst certain granddaughters. The residue of the estate was also divisible amongst the same granddaughters. The question for determination was: "Did such a legacy to an infant grandson carry interest in the meantime." The importance of this question arose from the fact that some of the infant grandsons would not attain majority for about 15 years, and if interest was payable on his legacy it could be used for his maintenance in the meantime, and a legacy of nominally £1000 would in that event be equivalent to a legacy of double that amount. If interest was not payable to the 'grandsons then the shares payable to the granddaughters named were increased by the interest which would otherwise go to the grandsons. The Court was asked to decide whether the legacies to the grandsons were contingent legacies carrying no interest; or whether they were vested legacies carrying interest, subject to being divested if the grandson did not reach 21 years. After_ hearing considerable legal argument his Honour reserved judgment.