WEALTHY MAN’S WILL

Hawera Star, Volume LIII, 26 August 1933, Page 9

WEALTHY MAN’S WILL

FEAR OF SUDDEN AFFLUENCE FORTUNE FOR SONS DEFERRED. Precautions against his sons slackening their interest in his business through coining into sudden wealth were taken in the will of Edgar SamueL Edgar, a London merchant and jeweller, ivho left £461,972 with a net personalty of £423,215. In his will Mr. Edgar said: “I desire that my sons shall not by' reason of my death become suddenly possessed of considerably more means than they have been accustomed to in my lifetime, and so be led to slacken their interest in the maintenance and successful carrying on of my said businesses, and I intend to postpone giving each of them the bulk of the benefits I contemplate ultimately giving them until my son, Gilbert Harold Samuel, attains the age of 45 years.

“As it will be imperative that my sons shall devote most close and neverceasing care and attention to my businesses, 1 expressly stipulate that they shall not prior to the year 1943 become candidates for or enter Parliament, or undertake any other public office.

“Having seen the disastrous results following rash speculation on the Stock Exchange, I solemnly request each of my sons scrupulously to refrain from speculating in any shape or form.” Mr. Edgar directed taht the reshould receive £I6OO a year for the first two years after his death, £IBOO a year for the next two years, and thereafter an increase of £2OO a year at the end of each two years until 1943. He also made the request that Ids children should “Observe the day of the anniversary of my death as a solemn period, free from festivity, for live vears after my death.”

•Should his daughter marry a born Jew still professing the Jewish religion, Mr. Edgar left her £IOOO for her trousseau and a further £IO,OOO in trust for her benefit and that of her children, and at the expiration of five years from such marriage a further £IOOO, and at the end of ten years - £SOOO.

Mr. Eqigar directed that the residue of the property should accumulate until January 1, 1943, and then go to his sons or their issue.