LORD NORTHCLIFFE’S WILL

Taranaki Daily News, 3 February 1923, Page 5

LORD NORTHCLIFFE’S WILL

A COMPROMISE ARRANGED. By Telegraph.—Press Assn.—Copyright. London, Feb. 1. Mr. Justice Duke, in the Probate Division, bv consent, pronounced against the Northcliffc will of July, 1922, propounded by Lady Northcliffe as executrix. Sir George Sutton and Mr. Henry Arnholz entered a caveat as executors Df an earlier will. Sir John Simon, representing Lady Northcliffe. announced that a settlement had been reached, and the terms of the compromise left no loophole for further controversy. Lord Northcliffe left a number of documents expressing his wishes in somewhat informal legal shape, and others much less formal in character. Lady Northcliffe was unable to establish th? documents propounded a* duly constituted testaments therefore she consented to these being pronounced against. The parties interested in these documents were provided for under the will the executors had already proved, also in the terms of the compromise. Mr. Justice Duke pronounced in favor of the will of March, 1919. with four codicils. FIVE MILLIONS ESTATE. DETAILS OF~TTS DIVISION.

Received Fob. 2. 5.5 p.m. London. Feb. 2. lM>rd Northcliffe’s estate is valued at £5.000,000. The will directs that it shall be invested and the income formed into a truM fund, divided into a hundred parts, of which 71'/. parts will form the residuary trust. Out of tins fund an annuity of 24 per cent, of the income from the residuary trust will he paid to Lady Northcliffe durmjr her widowhood. 8 per cent, to Lord Northcliffe'n mother, and other smaller percentages to liis .sisters, brothers and executors. Generous legacies and annuities are provided from a special lecacv fund to writers and others who Mned to establish the Northcliffe press and to his private secretaries. A sum of £lOOO is given to every director of Lord Northclice’s companies and £5O to each “father of th e chapel" in the printing departments.—Aus.-N.Z. Caole Association.