WILLS. Strict Limitations. (Full Form.) Surplus to accumulate. dian of such children or child, then to pay and apply the same, or any part thereof, for that purpose, in such manner as they the said trustees or trustee shall in their or his discretion think proper. AND lay out and invest the surplus or savings of the dividend or interest of such presumptive share or shares of the said children or child, which shall not be applied for such maintenance or education as aforesaid, in the purchase of three per cent. consolidated bank annuities, in the name or names of them or him the said trustees or trustee, in order that the same may ac cumulate (1) for the benefit of the said children Interest does gacy being payable; Rennison v. Parrot, 1 Ch. Ca. 60; Convey v. Longville, 1 Eq. Ca. Ab. 301, pl. 3; Heath v. Perry, 3 Atk. 102; Carey v. Askew, 2 Brow. Ch. Ca. 58; but not so as to grandchildren; Palmer v. Mason, 1 Atk. 505; Naughton v. Harrison, 2 ib. 330. But giving maintenance to legatees during their minority, is not vest legacy. not equivalent to interest for the purpose of vesting the legacy; Pulsford v. Hunter, 3 Brow. Ch. Ca. 416; Hanson v. Graham, 6 Ves. 239; Goodtitle v. Whitby, 1 Bur. 228. Accumulation of rents or interest not to exceed lives in being, &c. (1) By 39 and 40 Geo. III. cap. 98, it is enacted that no person shall, by deed or will, settle or dispose of any real or personal property in England or Wales, (except for payment of debts or providing portions for children or relatives) in such manner as that the rents or other proceeds that shall accumulate for any longer term than the life of the grantor or settler, or the term of twenty-one years from his or her death, or the minority of any person living or in ventre sa mere at the time of such death, or of any person who by virtue thereof would, if of age, be entitled to the said rent, &c. see post, rider (B). The utmost length of time therefore to which the limitation of personalties, or the rents and profits of real estates can now be extended, so as to preserve them in the same family without power of aliena my said daughter, WILLS. Strict Limitations. (Full Form.) Power to ad vance part of children's shares during respectively, or be applied in making good the insufficiency of the dividends or interest of any preceding year or years for the aforesaid purposes. PROVIDED FURTHER, and it is moreover my will and desire, that the said trustees or trustee do and shall, after the decease of if they shall think proper, or in her lifetime, by minority. or with her direction or consent, to be testified under her hand, pay, apply, or advance (1) the whole or any part of the expectant or presumptive share or shares of the said children or child, or of any or either of them, unto him, her, or them, or to any other person or persons for his, her, or their preferment in life or advancement in the tion, is during any number of lives living at the time of the bequest taking effect by the death of the testator, and twenty-one years and a few months (i. e. the months of gestation) afterwards, see Long v. Blackall, 7 Durnf. and E. 100, 3 Ves. jun. 486; S. C. Thelluson v. Woodford, 4 ibid. 227; after which time it will become an absolute interest in the next taker, and assignable at pleasure. It has, however, been determined, that although this period be exceeded, the disposition will be good during the time allowed, and not void for the whole; see Griffith v. Vere, 9 Ves. jun. 127; Longdon v. Simson, 12 ibid. 295. And the direction that surplus interest shall accumulate after Vesting of maintenance and preferment, does not prevent the vesting of legacy. the legacy; Bolger v. Mackay, 5 Ves. 509; Booth v. Booth, 4 ib. 399. (1) Where the mother has a life interest in the trust monies, Advancement. no part of it can be applied for the advancement of the children during her life, unless with her consent, or a power be given to the trustees for that purpose; and see ante, p. 345, n. (1). WILLS. Strict Receipt of guardian, &c. to be good discharge. world, in such manner as he or they the said trustees or trustee shall deem advisable or expedient, Limitations. although the portion or portions of such child or (Full Form.) respective children shall not then have become payable or vested. AND I do hereby further declare, that in case any such dividends, interest, or annual proceeds of the said trust-monies, or any part of the principal thereof, being so paid, applied, or disposed of, for the maintenance and education or advancement of the said children, or any or either of them, the receipt or other acquittance of the guardian, curator, tutor, or other person to whom the same shall be paid, shall be a good and effectual discharge to the said trustees and trustee, and they, or any or either of them, shall not thereafter be accountable for the same, or be in anywise bound to see to the proper application thereof, or any part thereof. AND UPON FURTHER TRUST, and my will is, that they the said trustees and trustee last aforesaid, shall stand the residue of possessed of, and interested in all such and so much of the said sum of £ Such part of the said sum as children shall not become entitled to, to be deemed part of testator's per. sonal estate. three per cent. consolidated bank annuities, and all such of the stocks, funds, and securities, wherein or upon which the same or any part or parts thereof shall be invested or laid out, and which shall not become vested in, or belong to any child or children of my said daughter, or be disposed of or applied for his, her, or their preferment or advancement in the world, in pursuance of the trusts or directions aforesaid, as a part or residue of my per ad WILLS. Strict Limitations. (Full Form.) Power for trus tees to change the funds and his trust-monies, securities of the sonal estate, and the same shall go and belong to my next of kin (1), under the statute for the distribution of the estate and effects of persons dying intestate. PROVIDED ALWAYS, and my will further is, that the said (trustees) and the survivors and survivor of them, and the executors and ministrators of the survivor, and their and assigns, shall and lawfully may, at any time or times during the life of my said daughter, with her consent in writing, signed with her hand, and after her decease, at the discretion of them or him the said trustees or trustee, sell (2), transfer, and dispose of the said sum of £ three per cent. consolidated bank annuities, or any part thereof, and all or any other the trust-monies and securities aforesaid, and lay out or invest the produce, or sum or sums of money to arise from any such sale or sales, and also all or any part of such other monies as shall be paid or come to their or his hands in pursuance of any of the trusts aforesaid, in any public stocks, funds, or parliamentary se (1) The bequest by a husband to his "next of kin" does not include his wife, nor does such bequest by a wife include her husband; Garrick v. Camden, 14 Ves. jun. 382; Bailey v. Wright, 18 ib. 49. 1 Swanst. 39 S. C.; but intends the nearest of blood to the testator; if, therefore, the testator have any other conception of the word he should explain his actual intent. Next of kin does not mean husband or wife. (2) Executors cannot with safety change the funds of the Executors can testator unless authorised by the will; Waite v. Wormwood, not vary funds. 2 Atk. 159; this power should therefore always be expressly given to them, if the testator would wish them to have it. WILLS. Strict (Full Form.) curities, at interest, in their or his names or name, and again from time to time sell, assign, transfer, Limitations and dispose of the said last mentioned stocks, funds, and securities, and lay out and invest the monies arising thereby in or upon any new or other like stocks, funds, or securities, as they the said trustees or trustee with such consent, or of such their own authority as aforesaid, shall think fit and expedient; all and every which said stocks, funds, and securities, and the dividends, interest, and annual proceeds thereof respectively, shall be and remain upon and for such trusts, intents, and purposes, and with and subject to such powers, provisos, and declarations, as are hereinbefore mentioned and expressed, of and concerning the said sum of £ three per cent. consolidated bank annuities, and the interest and annual proceeds thereof, or such and so many of them as shall for the time being be subsisting or capable of taking effect. Bequest to trus. tees to protect against creditors. Bequest of a Legacy in trust for an extravagant three I give and bequeath the sum of £ per cent. consols, unto (trustees) their executors, administrators, and assigns, UPON TRUST, that they the said (trustees) or the survivors or survivor of them, or the executors or administrators of such survivor, or other the trustees or trustee for the |