LORD NORTHCLIFFE’S WILL

Otago Witness, Issue 3595, 6 February 1923, Page 22

LORD NORTHCLIFFE’S WILL

COMPROMISE ANNOUNCED LONDON, February 1. _ Mr Justice Duke, in the Probate Division. bv consent, pronounced against Lord Northcliffe’s will of July, 1922, propounded by Lady Northcliffe as executrix. Sir George Sutton and Mr Henry Arnholz entered a caveat as executors of an earlier will. Sir John Simon, representing Lady Northcliffe, announced that a settlement had been reached, and that the terms of the compromise left no loophole for further controversv. Lord Northcliffe left a number of documents expressing his wishes. Some were in formal legal shape, while others were much less formal in character. Lady Northcliffe was unable to establish Gie documents propounded as duly-constituted testaments; therefore she consented to these being pronounced against. The parties interested in these documents were provided for under the will which the executors had already proved, also m the terms of the compromise. Mr Justice Duke pronounced in favour of the will of March, 1919, with four codicils. February 2. Lord Northcliffe’s estate is valued at £5.000,000. The will directs that it shall be invested and the income placed in a trust fund and divided into 100 parts, of which 71] parts will form the residuary trust. Out of this fund an annuity of 24 per cent, of the income of the residuary trust will be paid to Lady Northcliffe during her widowhood, 8 per cent, to Lord Northcliffe’s mother, and other smaller percentages to his sisters, brothers, and executors. Generous legacies and annuities will he paid from a special legacy fund to the writers and others who helped to establish the Northcliffe press and to Lord Northcliffe’s private secretaries. £IOOO will be given to every director of the Northcliffe companies, and £SO to each “ father of the chapel * in the print, ing departments.