DIVISION OF ESTATE

Taranaki Daily News, 5 September 1935, Page 7

DIVISION OF ESTATE

CASE HEARD AT HAMILTON.

CEYLON PLANTER’S WEALTH.

By Telegraph—-Press Assn,—Copyright. Hamilton, Septeriiber 4.

A claim for relief under the Family Protection Act affecting the ©stat© of a wealthy map was heard b©for© Mr, Justice Callan in th© Supreme Court at Hamilton to-day. The applicants wer© the widow and members of the family pf John Thomas Hawke, Hukanui Road, Hamilton, a Ceylon tea planter, who died at Hamilton op September 2, 1933, at the age of 83, leaving an estate valued then at £98,000, but which, with exchange added, is estimated at £124,000. The applicants for relief were the Widow of deceased, the eldest son and two adult children, while the defendants were six children who were minors, the Roman Catholic Church of New Zealand, the residuary legatee, and th© Public Trustee. It was explained that Hawke’s estate consisted - of New Zealand apd foreign assets, including properties and shares ip Ceylon. In May of this year the estate was valued at £68,670, showing a considerable shrinkage. Although certain shares in Ceylon had appreciated greatly these shares had not been realised. The £68,670 did not take into account the value of exchange and the conversion of currency, which would add to the value. A total of £14,5Q9 had been paid in stamp duty and £7OOO in administrative expenses. Before his death Hawke' estimated his estate at £115,000. When he died Hawke disposed of his estate, leaving one-tenth of the capital and income to th© Roman Catholic Church of New Zealand for the purpose of educating priests in various dioceses throughout New Zealand. He directed that the balance of the.income should be divided equally among his Wife apd children, wjth the provision that the children of a deceased child should take' their share of the whole capital after the death of the last descendant, It provided that the whole of the estate pass to the Catholjq Church and no portion of th© capital with th© exception of © half interest in the dwelling house was to pass to any member of the family, The income of the estate so far has amounted to £4580 per annum- The income of each member of th© family for two years sine© th© death of th© testator has been £322 per annum, but owing to the prospective sal© of th© Ceylon properties and the cessation of the handsome profits they realised a reduction of income for th© fptpr© was forecast. The Church did not desire to benefit under the will until tit© family Was adequately provided for. Decision was reserved.