Gobbledygook in a will - I can read it but I don't understand it

[Margaret in Burton]

My great grandfathers will.

It's just gobbledygook

Can anyone explain in English? I only want the gist of it.

This is just part of it.

I give device and bequeath all the residue of my real and personal estate unto my trustees their heirs executors and administrators according to the nature thereof
(a) Upon trust that they shall allow my wife Alice Mortlock so long as she shall desire to reside at number 178 Thornley Street aforesaid and (subject as hereinafter mentioned) to carry on my businesses of a Grocer and Ale Merchant or either of them and to take the net profits thereof for her own benefit and for the purpose of carrying on the said businesses or either of them to occupy any premises which I may occupy or which belong to me at my death and to employ or use all my live and dead stock and implements without being liable for any loss or damage to the same and to use such parts of my personal estate as capital in the said businesses or either of them as my trustees shall from time to time in their absolute discretion deem reasonable and subject to the last mentioned trust (b) Upon trust that my trustees shall as soon as conveniently may be after my death shall call in convert into money such parts of my personal estate as shall not consist of money or of investments authorised by law and sell my real estate in such manner and subject to such terms and conditions as my trustees shall think fit. Provided always and I declare that notwithstanding the power hereinbefore given to my said wife to carry on my said businesses my trustees shall have full discretionary power in the event of their being satisfied that the said businesses or either of them are or is occuring loss to my estate to forthwith sell lease or otherwise dispose of or deal with the name in such manner as they shall think expedient.

4. Out of the moneys to arise from such sale calling in and aversion as aforesaid and gthe ready money of which I may be possessed at my death my trustees shall pay my funeral and testamentary expenses and debts and shall invest the residue of the said moneys in their names in any of the forms of investments for the time being authorised by law for the investment of trust funds with power to vary such investments at their discretion and shall stand possessed of such investments and of any parts of my real and personal estate for the time being unconverted (hereinafter called "My residuary estate")

I delare that my trustees shall have the fullest power and discretion to postpone the sale calling in and conversion of any part of my real or personal estate including property of a terminable or wasting nature during such period as they shall in their uncontrolled discretion think fit and to retain the name or any part thereof in its present form of investment without being responsible for loss and that the rents profits and income of such part of my estate as for the time being shall remain unsold after payment thereout of all rents rates taxes costs of insurance repairs and management and other outgoings shall as well during the first year after my death as afterwards be applied as if the same were income arising from investments of the nature herein authorised to be made of the proceeds of sale thereof and that my trustees my insure repair and generally manage any real or leasehold properties for the time being held by them and in particular may let or lease or agree to let or lease the same for any term not exceeding twenty one years at the best rent to be reasonably obtained without taking a fine

[Olde Crone]

Basically, the Trustees are to use their wits in the disposal of assets, get the best price for everything and to delay selling anything if it is a bad time to sell, but to rapidly dispose of anything which is losing money!

I would think this is fairly standard instructions to Trustees.

OC

[Margaret in Burton]

Thank goodness for that OC, I thought it was saying that his trustees could do what the b***dy hell they liked and the family could go whistle. I think it took me so long to type it out I just couldn't make head nor tail of it.

[Olde Crone]

Well, yes, the Trustees CAN more or less do what they like...it would be very difficult to prove they were doing anything wrong and very expensive to do anything about any wrong-doing.

OC

[Margaret in Burton]

Well, yes, the Trustees CAN more or less do what they like...it would be very difficult to prove they were doing anything wrong and very expensive to do anything about any wrong-doing.

OC

It just seemed a bit weird that a couple of other local shopkeepers could decide whether any of his businesses should close. Seems to me they might have had their own interests to think about first.

[Olde Crone]

I suppose it depends on how trustworthy they were and how much he personally trusted them. They were obviously more trustworthy than his Little Woman, lol.

OC

[kiterunner]

If he didn't trust them he wouldn't have named them as his trustees.

[Merry]

It's not that he didn't trust his little woman, but she was female and therefore not clever enough to be allowed to make her own business decisions! :rolleyes:

[Margaret in Burton]

I suppose it depends on how trustworthy they were and how much he personally trusted them. They were obviously more trustworthy than his Little Woman, lol.

OC


AH! There is a family story that he was playing around and was going to leave her but she suddenly became an invalid and took to her bed. So he stayed.

[Kit]

Interesting that she was an invalid but could run his business after he died. lol

Good on her for keeping her man if she wanted hom.