same in the purchase, in the names or name of the said trustees or trustee, of a competent share or shares of any of the parliamentary stocks or public funds of Great Britain, or upon government or real securities in England or Wales, or on mortgage, or purchase of any shares of or securities lawfully granted by any corporate body, or railway, dock, or other public company paying a dividend upon such shares or interest upon such securities respectively, with full power for the said trustees or trustee, from time to time, with such consent or at such discretion as aforesaid, to alter, vary, and transpose the said stocks, funds and securities in and upon which the said trust moneys shall for the time being be invested for any other stocks, funds, and securities of the kinds and descriptions aforesaid, and shall pay the annual income of the said trust moneys, stocks, funds, and securities unto the said C. D. during her life for her sole and separate use, independently of any man who may be her husband [and particularly of the said A. B. in the event of any such investment being made during his lifetime upon any such sale or surrender as aforesaid,] and so that she shall not have power to deprive herself thereof by way of anticipation, and that her receipts alone shall be sufficient discharges for the same; and after the death of the said C. D. shall stand possessed of the said trust moneys, stocks, funds, and securities and of the annual income thereof, upon trust for such one or more exclusively of the other or others of the children of the said intended marriage, in such shares and proportions and with such provision for their respective maintenance, education, and advancement, and for such partial and other interests, and generally in such manner as the said A. B. and C. D. shall, by any deed or deeds, with or without power of revocation, direct or appoint; and in default of any such joint direction or appointment, and so far as no such direction or appointment shall extend, as the survivor of the said A. B. and C. D. shall, by any deed or deeds, with or without power of revocation, or by his or her will or any codicil thereto, direct or appoint; and in default of any such direction or appointment, and so far as no such direction or appointment shall extend, upon trust, for all and every the children and child of the said intended marriage, who being a son or sons shall attain the age of twenty-one years, or being a daughter or daughters shall attain that age or be previously married, to be divided [*426] among such children, if more than one, in equal shares, and if there shall be but one such child, the whole to be in trust for that one child. [Provided always, and it is hereby agreed and declared between and by the parties to these presents, that the powers of appointment by deed or will herein before given unto the said A. B., in the event of his surviving the said C. D., shall not extend to any moneys which shall be derived from the sale or surrender, in his lifetime, of the said policy or any such further or renewed policy or policies as aforesaid, or to the investments of such moneys, but that in either of such cases the same moneys and investments, notwithstanding any such appointment by the said A. B. as such survivor, shall, without prejudice to any such jointappointment as aforesaid, be subject to the like trusts, powers, and provisions as are herein before declared thereof in default of any appointment being made:] Provided also, and it is hereby further agreed and declared, Ang a dividend upon such shares or interest upon ed by any corporate body, or railway, dock, or rchase, in the names or name of the said trustees or tru the kinds and descriptions aforesaid, for the time being be invested for any stocks, funds and securities in and upon onsent or at such discretion as aforesaid, to with full power for the said trustees or trustee, mortgage, or purchase of any shares of or seBritain, or upon government or real securities in ut share or shares of any of the parliamentary stocks or e said trust moneys, stocks, funds, her life for her sole and sepa may be her husband [and parsurrender as aforesaid,] such investment being be sufficient discharges herself thereof by way shall stand possessed and of the annual rely of the other APPENDIX. r granting annuities and assurances upon lives, upon the share or shares of any of the parliamentary stocks or hase, in the names or name of the said trustees or trus my corporate body, or railway, dock, or ortgage, or purchase of any shares of or se Pritain, or upon government or real securities in end upon such shares or interest upon ver for the said trustees or trustee, ach discretion as aforesaid, to nd securities in and upon be invested for any iptions aforesaid, tocks, funds, and sepa par 283 [*428] f seeing to the application of the lity by reason of the loss, missert power of appointing new also, and it is hereby lastly 9 for the time being, acting *pective heirs, executors, ch moneys as they reresents; and each of ipts, and defaults, s, and particularly ants on the part of the them, shall be chargeable as such trustees or trustee, and that ators or administrators shall not be in utable for or in respect of any such omission - account of the said policy or any such further or aforesaid suffering or becoming liable unto any for Lance, or impeachment whatsoever; and also that it shall be or the said trustees and trustee for the time being, and their recive executors and administrators, by and out of the moneys which shall come to their or his hands by virtue of these presents, to reimburse themselves or himself all costs, charges, and expenses which they respectively may sustain or be put unto in or about the execution of the trusts herein before declared, or in relation thereto. In witness, &c. PRECEDENT, No. XII. Settlement of a Policy of Assurance on the Life of the intended Husband. (Short Form.(a)) THIS INDENTURE, made the day of, 1853, between A. B., of, (a) When brevity is an object, it is intended to rely upon the existing policy only, and a second deed is objected to, this form may be adopted. that no child or children taking any share in the said trust funds by virtue of any such direction or appointment shall be entitled to any further share in the said trust funds, without bringing his, her, or their appointed share or shares into hotchpot, and accounting for the same accordingly: Provided also, and it is hereby further agreed and declared, that it shall be lawful for the said trustees or trustee, after the death of the survivor of the said A. B. and C. D., to apply all or any part of the annual income arising from the presumptive share of each of the children of the said intended marriage of and in the said trust funds during his or her minority in or towards his or her maintenance, education, or advancement in such manner as the said trustees or trustee shall think fit; And also at any time after the decease of the said C. D., or in her lifetime, with her consent in writing, to advance unto and for each or any of the said children of the said intended marriage, notwithstanding his or her minority, the whole or any part of the presumptive share of the same child of and in the said trust moneys which shall have been actually received by the said trustees or trustee in manner aforesaid, and the investments thereof, for the advancements or preferment in the world or in marriage of any such child; and all moneys which shall be so advanced shall be deducted and allowed out of the share hereby provided for the same child notwithstanding his or her death before his or her share shall be absolutey vested: And moreover, that so much of the annual income arising from the share of each of the *same children which shall [*427] not be applied for the purposes aforesaid shall from time to time be added to the principal moneys of the same share, and be subject to all the trusts and dispositions herein contained concerning the said principal share; but the savings of any one year may be applied to such maintenance, education, and advancement, in any succeeding year or years: And it is hereby further agreed and declared, that in case there shall be no child or children of the said intended marriage who shall live to attain a vested interest in the said trust funds and premises herein before declared in trust in favour of such child or children as aforesaid, the said trustees or trustee shall stand possessed of the said policy moneys and premises upon trust for the said A. B., his executors, administrators, and assigns: [Provided also, and it is hereby further agreed and declared, that in the event of any such sale or surrender as aforesaid being made of the said policy of assurance, or of any such further or renewed policy or policles as aforesaid during the life of the said A. B., it shall be lawful for the said trustees or trustee, if they or he shall think fit, but by no means imperative upon them or him, upon the request in writing of the said C. D., and either during the life of the said A. B. or after his decease, to invest the said moneys which shall have been received by them or him in manner aforesaid, or, in case any irrevocable appointment shall have been made of any portion of the said trust funds by virtue of either of the powers in that behalf hereinbefore contained, then the unappointed part thereof, (and for this purpose to make sale and dispose of the stocks, funds, and securities upon which such trust moneys may for the time being be invested) in the purchase, in their or his names or name, of a government annuity or an annuity of some one of the public offices in money as [*428] Great Britain for granting annuities and assurances upon lives, upon the life of the said C. D., and shall stand possessed of such annuity upon trust for the said C. D., for her sole and separate use, but without power of anticipation, in manner herein before expressed concerning the annual income of the said trust moneys and the investments thereof during her life: Provided always, and it is hereby agreed and declared, that every receipt which shall be given by the said trustees or trustee for any money to become payable unto or received by them or him by virtue of these presents shall be a good and conclusive discharge to the person or persons paying the same money, and particularly to the said or any other assurance society or company for all and every such sum and sums of shall be assured to be paid by the said policy *or any such further policy as aforesaid, and shall release such persons or person, society or company, from all obligation of seeing to the application of the same money, and from all lien and liability by reason of the loss, misapplication, or nonapplication thereof [Insert power of appointing new trustees from preceding Precedent:] Provided also, and it is hereby lastly agreed and declared, that the trustees or trustee for the time being, acting in the execution of these presents, and their respective heirs, executors, and administrators, shall be chargeable only for such moneys as they respectively shall actually receive by virtue of these presents; and each of them shall be answerable only for his own acts, receipts, and defaults, and by no means for accidental or involuntary losses, and particularly that no omission or neglect to enforce the covenants on the part of the said A. B. herein before contained, or any of them, shall be chargeable as a breach or breaches of trust upon any such trustees or trustee, and that they or he and their or his executors or administrators shall not be in anywise responsible or accountable for or in respect of any such omission or neglect, or for or on account of the said policy or any such further or renewed policy as aforesaid suffering or becoming liable unto any forfeiture, avoidance, or impeachment whatsoever; and also that it shall be lawful for the said trustees and trustee for the time being, and their respective executors and administrators, by and out of the moneys which shall come to their or his hands by virtue of these presents, to reimburse themselves or himself all costs, charges, and expenses which they respectively may sustain or be put unto in or about the execution of the trusts herein before declared, or in relation thereto. In witness, &c. PRECEDENT, No. XII. Settlement of a Policy of Assurance on the Life of the intended Husband. (Short Form.(a)) THIS INDENTURE, made the day of, 1853, between A. B., of, (a) When brevity is an object, it is intended to rely upon the existing policy only, and a second deed is objected to, this form may be adopted. |