Re, Butler-Bentley v Wilson and Another.Lecky

• Jurisdiction: Ireland
• Judgment Date: 31 March 1949
• Date: 31 March 1949
• Docket Number: 1948. No. 1020.
• Court: High Court

In re Lecky, deceased

Butler-Bentley

and

Wilson and Brown

Annuity - Direction to trustees to set aside capital sum sufficient to provide for annuity out of income - Sum set aside subsequently proving insufficient so to pay annuity in full - Right to resort to capital of sum so set aside.

A testator by his will, after making certain other dispositions, devised and be-queathed his residuary personal estate to his trustees upon trust for sale, with power to postpone such sale and to leave any portion of the estate in its existing state of investment, and out of the proceeds of such sale to pay his funeral and testamentary expenses, debts and legacies and, subject thereto, to pay the annual income thereof to his wife for life with remainder to his son on attaining the age of twenty-one years absolutely, with the proviso that in the event of his wife marrying again the said bequest to her should cease and determine and the trustees should thereupon set apart a sufficient capital sum out of the said residuary estate to answer by the annual income thereof the sum of £300 and pay the said annual sum of £300 by equal quarterly instalments to his wife for her life for her own use and free from the control of any husband with whom she might intermarry and without power of anticipation, and that subject thereto the trustees should stand possessed of the said residuary estate, including the capital sum so set apart when it should fall into possession, in trust for the testator's son on attaining the age of twenty-one years absolutely. The testator died in the year 1917, and in the year 1922 his widow remarried, whereupon the trustees (of whom the widow was one) set aside a sum representing portion of the residuary estate to answer her annuity. The income of the fund so set aside yielded, until the year 1936, a sufficient income to enable the annuity to be paid in full...