PART II. CHAPTER I. THE SIMPLEST FORM OF WILL, BEING A BEQUEST OF EVERYTHING TO WIFE, AND APPOINTING HER EXECUTRIX, WITH REMARKS ON THE RESIDUARY ACCOUNT. THIS is the last Will and Testament of me, Thomas Axford of "The Oaks," in the city of Bath, gentleman. I give, devise, and bequeath unto my beloved wife, Caroline Axford, all my estate, property, and effects of every kind that I may die seised, possessed of, or in any manner interested, for her own absolute use, benefit, and disposal, and I appoint her the sole executrix of this my will. As witness my hand this third day of June one thousand eight hundred and seventy-two. Signed by the testator as his will in the presence of us, who, in his presence, at his request, and in the presence of each other, all present together, have hereunto set our names as witnesses. THOMAS AXFORD. RICHARD TOOGOOD, Apsley House, Bath, Gentleman. do. Do. It cannot be laid down as an inflexible dogma that the Board do not require an account to be rendered under such a will as the foregoing; though they will sometimes refuse to look at such when tendered, and perhaps reject it with the remark, that as the widow takes everything, no entry is made in the books. On the other hand, we have known application made for an account to be rendered, and after examination it has been returned with an intimation, that sufficient probate duty had not been paid, accompanied with an inquiry whether any property passed under settlement, or in any other manner devolved upon any person liable to pay duty by reason of the death of the testator. When such an account has been called for, we have observed that the estate has generally been large; and probably the Board infer, from the position of the parties, and the amount Widow Sole Legatee and Executrix. 119 under which the will was sworn, that some settlement might have been made on the marriage, whereby property devolved upon the children, who would be liable to pay succession duty. From what has been said, it will be learnt that uniformity of practice does not prevail; hence we think a safe suggestion to make to widows who are sole legatees, devisees, and executors, is to wait until application be made before taking the trouble to prepare accounts. Should one be applied for, let it be in the following form, and be careful to insert the note beginning "No Settlement," and labour will be saved to the Board as well as to the widow, inasmuch as the question with regard to succession duty will be answered in anticipation. RESIDUARY ACCOUNT FORM. REGISTER, AB. No. I. 1874 Folio 879. AN ACCOUNT of the Personal Estate of Thomas Axford, of the City of Bath, Gentleman, who died on the tenth day of February one thousand eight hundred and seventy-four, exhibited by Caroline Axford, of "The Oaks," Bath, Widow, the Executrix, acting under the Will of the deceased, proved in the Bristol District Registry of Her Majesty's Court of Probate on the eighth day of March 1874. Cash at the Bankers, Furniture, Plate, Linen, China, Books, Pictures, Wearing Apparel, Jewels and Ornaments, The Stocks or other Securities of British Colonies, viz.:— 3 Queensland 6o, Bonus of 100 each, 7 June 1874 33900 sold at 113, Property not comprised within the above description, viz.: 12 Turkish Bonus 5% of 1865, sold at 47, Real Estate and Leasehold Estates directed to be sold as per statement of particulars annexed, This Account comprises the whole of deceased's estate. 9 Aug. 1874 564 0 0 Carried forward, |10369|6|92 30 Brought forward, No settlement was made on the mar riage, nor is the executrix aware that any real or personal property devolves upon any person liable to pay succession-duty by reason of the death of the testator. Insert the Total of Column No. I in Column No. 2, Total of Property, 1036 9 6 1128 12 6 Deduct the Total of the Payments from the Total of Property, 257 710 I do declare that the foregoing is a just and true account. CAROLINE AXFORD, Executrix. THOMAS AXFORD deceased. SCHEDULE OF DEBTS due and owing at the death of the deceased : The preceding account is one of the most simple and ordinary description; and as the widow is sole legatee, there is no need of accounting for dividends received between the period of death and the passing of the account. We have purposely made the debts represent a sum suffi Probate Duty reduced by Debts. 121 cient to enable the legatee to get back a return of probate duty on the ground of debts, and with a view of giving us an opportunity of parenthetically observing that in this instance the executor would be entitled to a return of £8 duty, because the estate would have been sworn to be under £1500, and a duty of £30 paid; whereas the whole of the assets having been ascertained to amount to £1128, 12s. 6d., from which may be deducted the debts actually due at the death, amounting to £192, 75. 10d., reduces the net sum below £1000, the correct duty on which will be £22, so that a return of £8 may be demanded. The regulations, with forms of affidavit, schedules, and all particulars, will be found in the fifth part of this book. The next form of account will be framed on the assumption that testator-Thomas Miles-was a widower; that he died leaving eight children, all of whom were of age; and appointed his eldest son Henry sole executor of his will. As conducing to simplicity, without in any way weakening the force of our illustration, let it be supposed in this, as also in the next example, that the assets at the bottom of the second page are the same as those ending the prior account, and then we shall only have to deal with the third page. The amount, then, to be brought forward will be £871, 4s. 8d.; but in this example dividends must be included on the third page in respect of the Turkish Bonds, because the conversion took place after the dividend was received; but not as to the Queensland Bonds, those having been realised before the July dividend accrued. RESIDUARY ACCOUNT, Page 3. Net amount of property brought forward, Dividends on the stocks and funds sold to the time of sale, and of those remaining unsold, including the last dividends. Half year's dividend due in July on twelve £871 4 8 30 0 0 I do declare that the foregoing is a just and true account, and I offer to pay the sum of £9, os. 3d. for the duty, after the rate of £1 per cent. upon the sum of £901, 4s. 8d., being the whole of the said residue and moneys to which I am entitled and intend to retain to and for my own use, and for the use of Thomas, James, William, Edwin, Mary, Sarah, and Ada Miles, being the eight children of the deceased. Dated this 13th day of August 1874. HENRY MILES, Executor. CHAPTER II. WILL WHEREBY THE ESTATE IS BEQUEATHED IN EIGHTHS-VIZ., ONEEIGHTH EACH TO TESTATOR'S SIX CHILDREN, ONE-EIGHTH TO HIS BROTHER, AND THE REMAINING ONE-EIGHTH TO THE EIGHT CHILDREN OF A DECEASED SISTER, WITH LEGACY RECEIPT AND RESIDUARY ACCOUNT. We shall now supply another brief form of will, whereby the estate is bequeathed in the way described in the heading to this chapter. Our object is to elucidate the mode of division amongst the various parties, describing how the receipt for the share payable to the brother must be dealt with, and how the oneeighth given to the children of the deceased sister will be exempt by reason of each taking less than £20. This is the last Will and Testament of me, Ambrose Hart, of the city of Bath, gentleman. I appoint my friend, Thomas Whitluck, of Bath aforesaid, executor of this my will, and give, devise, and bequeath unto him all my estate and effects of every kind, upon trust, to convert the same into money as quickly as practicable after my decease; and after payment thereout of all my just debts, funeral and testamentary expenses, I direct him to divide the same into eight equal parts, one of which shall be paid to each of my six children, another to my brother, William Hart, and the remaining one-eighth part to be divided equally between the eight children of my deceased sister, Mary Gooding; but in case any or either of them shall die in my lifetime, the share or shares of him, her, or them so dying, shall go to the survivors. As witness my hand this third day of June, one thousand eight hundred and seventy-two. Signed by the testator as his will in the) presence of us, who, in his presence, at his request, and in the presence of each other, all present together, have hereunto set our names as witnesses. AMBROSE HART. SOLOMON ABRAHAMS, King Street, Bath, Upholsterer. do. do. Accountant. |