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Note: [YOULE 2015.FTW]
[~1.GED]
Address at baptism 66 Hunter Hill Road, Sheffield
THIS WILL dated the 12th day of November One thousand nine hundred and ninety two is made by me WILLIAM ARNOLD YOULE of 26 Watton Park Bridport Dorset
1.I REVOKE all former Wills and testamentary dispositions
2.IF my wife Ena Elizabeth YOULE survives me by thirty days I GIVE the whole of my estate to her and APPOINT her my sole Executrix but if this gift fails then the following provisions of this Will shall apply
3.(a) I APPOINT my daughter Jennifer Mary Simcox Wallis of Merrivale Sandy Lane Road Charlton Kings Cheltenham to be my Executrix and Trustee
(b) IN THIS WILL the expression �my Trustees� means my Executors and Trustees of this Will and any trust arising out of it
4.MY TRUSTEES shall hold my estate on trust to retain or sell it and: (a) (i)Pay debts and Executorship expenses (ii) Pay any Inheritance Tax in respect of property passing under this Will (b) To give the residue (my residuary estate) to the said Jennifer Mary Simcox Wallis absolutely but if she dies before me leaving children then those children shall take equally the share which she would otherwise have taken (c) I make no provision for my daughter Elizabeth as I have had no contact with her for over thirty years
5.MY TRUSTEES shall have the following powers in addition to their powers under the general law: (a) To allow any beneficiaries of mine to have the use of any personal chattels to which he is or may become entitled (b) To apply or accumulate the income in accordance with Trustee Act 1925 Section 31 as they think fit and without the restriction imposed by the proviso to sub-section 1. (c) To apply capital for the benefit of any beneficiary who is under 18 years as if Trustee Act 1925 Section 32 applied to the whole (and not merely one half) of a beneficiary�s presumptive or vested interest (d) To invest as freely as if they were beneficially entitled and this power includes the right: (i) To invest in unsecured interest free loans to any beneficiary (ii) To invest in other non-income producing assets including policies of life assurance with power to pay premiums out of income or capital (iii) To invest in property for the occupation of any beneficiary (iv) To hold investments in the name of such person or body as they think fit. (e) To insure any asset of my estate on such terms as they think fit and : (i) To pay premiums out of income or capital (ii) To use any insurance money received to restore the asset or if this is not possible to apply it as if it was the proceeds of its sale (f) To borrow money on such terms as they think fit to use it for any purpose for which the capital of my estate may be used and to give security for any money borrowed. (g) To use the income or capital of my residuary estate for or towards the cost of maintaining or improving any freehold or leasehold property forming part of the Trust Fund.
(h) In the exercise of dealing with such power of appointing new trustees to appoint a professional person or trust corporation at such remuneration and on such other terms as shall be agreed
(i) The power of appropriation conferred on personal representatives by Section 41 of the Administration of Estates Act 1925 may be exercised by my Trustees as well in the capacity of Trustees as of personal representatives and in either case without the necessity of obtaining any of the consents required by that section and I declare that for the purposes of this clause any property appropriated shall be valued as at the date of my death
(j) Any immoveable property acquired by my Trustees shall be held on trust to retain or sell.
(k) To carry on any business in which I am engaged for so long as they think fit and as if they were beneficially entitled with the right:
(i)To employ in the business any assets of my residuary estate (ii)To be indemnified out of my residuary estate for any loss incurred (iii)To be employed in the business and to retain for themselves any reasonable remuneration paid (iv)To form a company to carry on the business (v)To be directors of any such company and to retain for themselves any reasonable remuneration paid
(l)At the expense of my residuary estate take out any insurance policy or policies designed to meet all or any part of the Inheritance Tax for which they may be or become liable as my personal representatives in respect of any dispositions known or unknown to them
IN WITNESS whereof I have hereunto set my hand the day and year first before written SIGNED by the Testator in our presence and attested by us in the presence of the Testator and of each other.
Probate granted on 5th August 1993 Gross value not exceeding �125,000 and net value of such estate not exceeding �10,000
COMMENT: How sad that my father had to lie in his Will to protect himself from my domineering mother. May his soul rest in peace in spite of the fact that he stated he had not seen me for 30 years when in fact I saw him regularly and was in contact with him until February 1990 when I moved to the Middle East to be with my daughter and granddaughter. My father�s final words to me were �don�t bring one of they Arabs back here�.
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