No. XV. MARRIAGE OF A LADY. SETTLEMENT upon the SECOND MARRIAGE of a LADY UPON SECOND THIS INDENTURE (the same as last Precedent, down to the income of all trust funds for 1. AFTER the said marriage the said E. F., G. H., and I. K., Wife to receive (hereinafter called "the trustees") shall pay the income of all the settled the trust funds settled by the said indenture to the said C. B., her separate so that during her now intended coverture the same shall be for use without her sole and separate use, and she shall not have power to dis- anticipate. pose thereof in the way of anticipation. power to until second 2. Ir the said X. Y. shall survive the said C. B. the income Income of a moiety of of one moiety of the trust funds in the said indenture of settle- wife's trust ment and hereinafter called the wife's trust funds, shall after paid to her the decease of the said C. B. be paid to the said X. Y. during husband [or his life [or until he shall marry again or shall assign or charge marriage, bankruptcy, the said income, or any part thereof, or become bankrupt, or do &c.]. or suffer any other thing whereby the said income, or any part thereof, if belonging absolutely to him, would become vested in any other person or persons, in either of which events the interest of the said X. Y. shall cease as if he were dead]. proportion of funds to form trust fund." 3. For the purposes of these presents the wife's trust funds Certain shall be considered as divided into so many equal parts as there wife's trust shall be children of the said C. B., as well by the said A. B. "future" deceased as by the said X. Y., who, being a son or sons, attain children's the age of twenty-one years, or being a daughter or daughters, attain that age or marry; AND so many of the said equal parts as there shall be children of the said C. B. by the said X. Y., who, being a son or sons, attain the age of twenty-one years, or being a daughter or daughters attain that age or marry, shall form together the fund which is hereinafter referred to as "the future children's trust fund." future chil 4. THE future children's trust fund shall, after the decease of Trusts of the said C. B., and subject to the interest of the said X. Y., dren's trust funds. MARRIAGE OF A UPON SECOND under Article 2, in exoneration so far as the same will extend of the residue of the wife's trust funds, go and be held IN TRUST for, &c. (Trust for issue of now intended marriage as husband and wife or survivor shall appoint, and in default of appointment, for children equally, and hotchpot clause, mutatis mutandis, suprà, pp. 292, 293). 5. (Advancement clause, suprà, p. 293, substituting X. Y. and C. B. for A. B. and C. D.) Power of favour of issue Ultimate trusts in case of no 6. THE power of appointment given to the said C. B. by the said indenture of settlement in favour of all or any of her issue by the said A. B. deceased, shall remain in full force so far as regards that part of the wife's trust funds which is not hereby appointed in favour of the issue of the now intended marriage. 7. If there shall be no issue of the said C. B., either by the issue of either said A. B. deceased, or by the said X. Y., in whom the wife's trust funds shall become absolutely vested under the trusts and powers of the said indenture of settlement, or of these presents, then and in such case, and subject to the interest of the said X. Y., under Article 2, the trustees shall stand possessed of the wife's trust funds, IN TRUST for, &c., (Ultimate trust for wife or her appointees by will or next of kin, suprà, p. 293). marriage. Agreement to settle other property of wife. 8. ALL, &c. (Agreement to rest in trustees other property of wife, suprà, p. 293, but with the following variation in the trusts) : UPON TRUST that the trustees shall, at such time or times as they shall think fit, but as to reversionary property not until it shall fall into possession, sell, call in, and convert into money all such part of the said property as shall not consist of money or of investments of the nature authorized by the said indenture of settlement, and shall stand possessed of such part of the said property as shall consist of authorized investments, or of money uninvested, and also of the moneys to arise from such sale, calling in, and conversion as aforesaid: UPON the trusts, and with and subject to the powers and provisions in and by the said indenture of settlement and these presents declared and contained of and concerning the wife's trust funds, or the moneys to arise from the sale and conversion thereof, or such of them as shall be then subsisting and capable of taking effect, and shall, in the meantime, and so long as any property hereinbefore directed to be sold and converted shall remain unsold and unconverted, pay the rents and income thereof to the person or persons and in the manner to whom and in which the income of the wife's trust funds shall, for the time being, be payable or applicable under the said indenture of settlement and these presents: PROVIDED ALWAYS, &c. (Proviso as to any part of property consisting of annuity or income, suprà, p. 294, substituting at the end the words "under the said indenture of settlement or these presents" for the words "under the foregoing trusts.") UPON SECOND MARRIAGE OF A be void if 9. THESE presents shall be void if the said intended marriage Settlement to is not solemnized within twelve calendar months from the date marriage is hereof. IN WITNESS, &c. not within twelve months. No. XVI, SETTLEMENT of a sum of STOCK in the usual form, day of 18-, ON CHILDREN (EXCLUDING ELDEST SON). deed of even THIS INDENTURE, made the BETWEEN A. B., of, &c. (intended husband), of the first part, Parties. C. D., of, &c. (intended wife), of the second part, and E. F., of, &c., G. H., of, &c., I. K., of, &c. (trustees), of the third part: WHEREAS a marriage is intended shortly to be solemnized Recitals. between the said A. B. and the said C. D.: AND WHEREAS Agreement for marriage. by an indenture bearing even date with these presents, and Settlement of made between (parties) in consideration of the said intended real estate by marriage, divers messuages, lands and hereditaments, in the date. county of therein particularly described, have been settled to the use of the said A. B. for his life with remainder (subject to a jointure rent-charge payable to the said C. D.) to the use of the first and other sons of the said intended marriage successively in tail male, with divers remainders over: AND WHEREAS Upon the treaty for the said intended marriage Agreement for it was agreed that the sum of £ India £4 per Cent. stock. Stock belonging to the said C. D. should be settled upon the trusts and in the manner hereinafter expressed, and the same has accordingly been transferred into the names of the said E. F., settlement of (EXCLUDING ON CHILDREN G. H., and I. K., in the books kept at the Bank of England for that purpose: NOW THIS INDENTURE WITNESSETH, that in consideration of the said intended marriage it is hereby agreed and declared as follows: ELDEST SON). Witnessing part. Trusts for wife and husband and issue. Eldest son to be excluded, if who attains vested interest. 1. (Declaration of trust of stock for wife until marriage, and afterwards to retain or vary investments.) 2. THE trustees shall, &c. (trust to pay income to wife for life for her separate use, without power of anticipation, and then to husband for life, suprà, p. 273): AND from and after the decease of the survivor of the said A. B. and C. D. shall stand possessed of the trust funds hereby settled, IN TRUST for the child, or all or any of the children, of the said intended marriage (except a son or sons excluded by Article 3, in the event therein mentioned), or any issue of such child or children, at such ages or times, or age or time (not being earlier as to any object of this power than his or her age of twenty-one years or day of marriage), in such shares, if more than one, upon such conditions, and in such manner as the said (husband and wife or survivor, shall appoint, suprà, p. 292): AND in default of such appointment, and so far as any such appointment shall not extend, IN TRUST for all the children of the said intended marriage (except a son or sons excluded by Article 3, in the event therein mentioned), 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 marry under that age, in equal shares, and if there shall be but one such child, then the whole to be in trust for such one child (Hotchpot clause, suprà, p. 293) AND if there shall be no child of the said intended marriage who shall attain a vested interest in the said trust funds under the foregoing trusts, then IN TRUST, &c. (ultimate trust for wife or her appointees by will or next of kin, suprà, p. 293). 3. THE first born or only son of the said intended marriage, any other child and also every other son (if any), who at the time when he attains the age of twenty-one years shall be entitled under the said indenture bearing even date with these presents to the hereditaments thereby settled for an estate in tail male in possession or in remainder immediately expectant on the decease of the said A. B., shall be excluded from all share in the trust funds hereby settled, if there shall be any other child or children 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 marry, but not otherwise. (Remaining clauses as in former Precedents.) IN WITNESS, &c. ON CHILDREN (EXCLUDING ELDEST SON). No. XVII. SETTLEMENT by intended HUSBAND and WIFE for the FOR ISSUE OF HUSBAND AND WIFE RESPEC TIVELY BY ANY recitals. THIS INDENTURE, &c. (Parties. Recitals of agreement for Parties and intended marriage, and for settlement and transfer of trust funds by husband and wife respectively to the trustees): NOW THIS Witnessing INDENTURE WITNESSETH, that in consideration of the said intended marriage, IT IS HEREBY AGREED AND DECLARED between and by the parties hereto as follows: part. 1, 2. (Trusts for husband and wife respectively until marriage, Trusts until and for investment and varying investments.) marriage and for investment, &c. Income of trust funds to and wife, and 3. THE trustees shall pay the income of the husband's trust funds to the said A. B. during his life, and after his husband's decease to the said C. D., if she shall survive him, during her go to husband life, and if the said A. B. shall marry again, he may by any with power to deed or deeds or by his will appoint that after his decease the husband to said income or any part thereof shall be paid to any future wife of his who may survive him during her life or for any period. less appoint same for life and to future wife after death of survivor same funds to go to issue of husmarriage as he band by any 4. AFTER the decease of the said A. B. and C. D., and subject to any appointment which may be made to a future wife as aforesaid, the trustees shall stand possessed of the husband's trust funds, IN TRUST for such child, children, or remoter issue appoint, (e) Where it is intended that only a limited portion of the settled property shall be disposable in favour of the issue of a future marriage, as is generally the case, the proper form is to make the settlement in the first instance in favour only of the issue of the intended marriage, with powers to the husband and wife respectively to make a settlement to the agreed amount in case of a future marriage. See Precedent No. XIII., suprà. The powers thereby given to the wife can be easily adapted so as to be made applicable to a husband. shall by deed or will |