Stelfox v Sugden
| Jurisdiction | England & Wales |
| Judgment Date | 30 April 1859 |
| Date | 30 April 1859 |
| Court | High Court of Chancery |
English Reports Citation: 70 E.R. 410
HIGH COURT OF CHANCERY
See Salvin v. Weston, 1866, 35 L. J. Ch. 553; Wormald v. Muzeen, 1881, 17 Ch. D. 167; 50 L. J. Ch. 482; reversed, 50 L. J. Ch. 776.
Will. Construction. Annuity. Abatement of. Deficiency of Income of Trust Fund. Dower
[234] stelfox v. sugden. April 30, 1859. [See SaMn v. Weston, 1866, 35 L. J. Ch. 553 ; Warmald v. Muzeen, 1881, 17 Ch. D. 167 ; 50 L. J. Ch. 482 ; reversed, 50 L. J. Ch. 776.] Will. Construction. Annuity. Abatement of. Deficiency of Income of Trust Fund. Dower. Annuity given by will to one for life out of the interest, dividends and annual proceeds of a given fund, although without restriction as to time, and followed by a gift over after the annuitant's decease of " the residue " of the fund : Held, not a charge upon the corpus; chiefly upon the ground that the will contained a gift over of surplus income during the life of the annuitant. And the circumstance that the annuity was given to testator's widow, to be accepted by her in lieu of dower, held not to affect the question. Thomas Sugden, by his will, in January 1854, after giving certain specific and pecuniary legacies, gave and devised all his land and real estate to the Plaintiffs upon trust to sell, and bequeathed to them all his personal estate (except chattels real included in the foregoing devise) upon trust to convert the same into money. And he declared that the Plaintiffs should, by and out of the moneys to arise from the sale of his said land and real estate, and from the calling in, sale and conversion into money of such part of his said personal estate as should not consist of money, and the money of which he should be possessed at the time of his death, pay his funeral and testamentary charges and expenses and debts, and the legacies thereinbefore bequeathed, and should invest the residue of the said moneys in the names or name of the Plaintiffs, or the survivors or survivor of them, or the executors or administrators of such survivor (thereinafter called the trustees or trustee), as in his will mentioned. And he thereby declared that the said trustees or trustee should, out of the interest, dividends and annual proceeds of the said trust moneys, stocks, funds, shares or securities, pay to his wife, the Defendant, Elizabeth Sugden, for and during the term of her natural life, the clear annual sum of 100, without any deduction or abatement therefrom whatsoever, for her own sole and separate use, by four equal quarterly payments; the first of such quarterly payments to be made at the expiration of three calendar months next after his decease. And the testator thereby declared that his said trustees or trustee should, during the term of the natural life of his said wife, divide and pay the residue of the said interest, dividends and annual proceeds of the said trust moneys, stocks, funds, shares or securities, [235] annually or oftener, if his said trustees or trustee should think proper, equally, share and share alike, to-such of his brothers, the Defendant, Joseph Sugden, and John Sugden (since deceased), and to such of his sisters, Ruth Wrigglesworth, widow (since deceased), and the Defendants, Ellen Tyas and Sarah Mosley, who should be living at the time of his, the said testator's, decease, during their respective lives, with benefit of survivorship between them on the death of any one or more of them during the life of his said JOHNS. 236. STELFOX V. SUGBEN 411 wife. And from and after the decease of his said wife the testator declared that his said trustees or trustee should stand possessed of the residue of the said trust moneys, stocks, funds, shares or securities, and divide the same into six equal parts or shares, and pay one of such parts or shares to each of his said brothers, the Defendant, Joseph Sugden, and the said John Sugden, and to each of his sisters, the said Ruth Wriggles-worth and the Defendants, Ellen Tyas and Sarah Mosley, and the remaining sixth part or share thereof to his nieces, Hannah and Julia Moss, equally to be divided between them. And the testator thereby declared that it should be lawful for the said trustees or trustee, in their or his absolute discretion, to postpone the exercise of the trust thereinbefore declared for the sale of his said land, real and leasehold estates, as to the whole or any part or parts thereof, so long as they or he should think fit; and that, until all his said land, real, leasehold and personal estates should be sold and converted into money, the said trustees or trustee should apply the income of such part thereof as should for the time being remain unsold or...
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