Re Powell's Trust
| Jurisdiction | England & Wales |
| Judgment Date | 14 December 1858 |
| Date | 14 December 1858 |
| Court | High Court of Chancery |
English Reports Citation: 70 E.R. 334
HIGH COURT OF CHANCERY
Will. Construction. "Ready Money."
[49] In re powell's trust. Dec. 4, 14, 1858. Will. Construction. " Heady Money." Cash of a testatrix at a savings bank, as to which she had given notice requiring payment, and which only awaited her receipt : Held to pass by a bequest of "all her ready money." But sums secured to her on notes of hand : Held, not to pass by that bequest, although preceded by a direction for payment of her funeral and testamentary expenses. (See Stocks v. Barre, infra, p. 54.) Mary Powell, by her will in 1856, bequeathed as follows:-"After my funeral and testamentary expenses are paid, I leave and bequeath unto" the Petitioners [naming them], "all my ready money, to be parted equally, share and share alike." The will contained various specific bequests of furniture, plate, linen and wearing; apparel, and a gift of 5 to the executor, but did not (save as aforesaid) deal with .the testatrix's personal estate, and did not contain any residuary bequest. johns.so. in re powell's trust 335 The testatrix was illegitimate and died a spinster. It appeared from the evidence that, at the time of her death, the testatrix was entitled to a note of hand payable on demand to secure the payment of 500 and interest; a note of hand payable on demand to secure the payment of 100 and interest; a sum of 95, 15s. 5d. in a savings bank, payment of which she had in her lifetime required by a notice to the savings bank-such notice being to pay the same at a time which had arrived before her decease-and which sum, and the interest then due thereon, might at any time after the expiration of such notice have been received by the testatrix upon demand, and which the testatrix had in fact directed a person to receipt for her at a time before her decease, but which was not received in consequence of such person being unable to go to the savings bank ; and a sum of 19, 13s. in the house. The clear balance of the testatrix's estate, after payment of her debts, funeral and testamentary expenses, and the [50] legacy to her executor, was paid into Court, under the Trustee Relief Act, and was now represented by a sum of 657, 17s. consols. Mr. C. Hall, for the Petitioners, claimed the entire fund in Court. As to the cash in the house the case was clear. As to the sum in the savings bank, notice having been given requiring payment at a time which had arrived before the decease of the testatrix...
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