THE LEVIN ESTATE.

Dominion, Volume 3, Issue 735, 7 February 1910, Page 9

THE LEVIN ESTATE.

INTERPRETATION OF THE WILL. INTERESTING CIVIL CASE. - ■ Taking advantago of..the privileges of ,tl»o Declaratory Judgments Aot ot .1908, •tho trustees oi the Le.vin Estato recently sought, in tho: Supreme Court, before Mr. Justice Cooper, ! an interpretation of. certain; portions of the .will ,'of the late Mr.' William tt.rt Levin, who die(l at Wellington on September 15, 1893.' The issue concerned . the,.,.rights of the youngest daughter .(Miss-Mona Beatrice: Levin, who attained ; her "majority.: in March , last),: with respect .to the moiieys representing, the accumulations of-her share..of 'the surplus income from all, sources of- tho estate, after providing for. her mainten-i ance and education during infancy. From the net annual income" of the general estate there was, firstly (according to, the will), to"'be deducted a'n aniiuil :paynient to' Mrs. Amy Levin, of . .£3OOO, and, estate,-after providing for her ntaintenunriiarried; an .'annual , payment to Mrs.'. Fitzgerald of .CIOO. Then, until. the remaining income was ultimately' divided into ' four': equal', shares—there : being four children—there was to be dedu&ted the moneys 1 paid'-for . the •niainWnbnoe . and education of - each. ; The balance of; the gross surplus' income was to be invested at compound interest, so that, annually,-' duriiig the;minbrity of- the, children,', tho accumulations grew; ' The two, sons, Robi ert Lionel Levin,' and .William Fitzgerald Levin,.- as they eamo of' age, became p<Si* sossed of . their V respective;' : accumulated' .surplus incomes. ;.,In ; , the 'case ;of thedaughters, the trustees; were, advised that each; had .the .sariie fright;;and,; r ingly,:',wh6h.;the eldest daughter''. (Mrs.:Vogel) bame'^'of'^e, ; ;her: shiaro ; also "befcame payable to: her. ,''' ■ But 1 Miss'MoMlayin" had .been: ad--vised that,she\.was-not' entitled"'to"\'t&. 'ceive. her portion 'of the,accumulations; that it had 'become practically a part ,o"£ her. capital share, and subject to the provision thpt : thq. daughters' 1 :sharo; of the capital of the' general-estate''was to;'be retailed; by ; thp>. trustees '.under 'certain, trusts. ' The amount involved was, in round figuresj;'J!39,ooo.:. Shortly;- the .objection, raised on Miss' Levin's behalf,was ■that tho accumulattons .were not - to b4 paid /iojithe-' daughters;: but.: .wero-td be settled aipon them; was-to- give them , only a lifo interest'in the income of the ascertained total laiiipflnt which"' had; ho-.; cumulated during 'the' minority', of eaoh of .the daughters'.w'The trustees' held 'thattheir interpretation of "thei'wiir'with 're-. spect to- Mrs.' Vogel's !paymeht : was cor*' rect; if; I^vih' r 'was.-iot : .so' entitled :with'! respect -to her share, then tho paynieritv to .'Mrs? • Vogel l was ! raadcerroneously.*' Therefore (represented'by''Mr; Myers) they constituted themselves plain-, ■tiffs in: an action; seeking l a . declaratory order determining' tho'. • construction ;'of that part of .tile' will, and citing -' Miss Mona Levin, who was "represented by" Mr. _ Chapman, K.C. (with .Mr; Atkinson as junior counsel) as defendant."- Argii'ment'was: heard,: and judgment: r^sorved.! . 'His Honour delivered judgment ' -,' , '- on Saturday imo'rnirijj,.. staiihg thdt , 'upon the proper,construction of ;the will of Mr. Levin; the. defendant, having .attained: her majority,' is entitled to w• ceive, the:, moneys. representing the: ncou-; mulations; other share of; the surplus referred to in '.the Svill,' after, providing ■ for ; her Maintenance': and education :during infancy." v ;V ; • 1 The question of 'costs , was reserved. Authorities quoted:— . ■ By his,Honour•-Definitiori^of;r'"A'd-;vancement"—(l) L;R.y 6 332-.'Moly- . neux, v. Tletoher;' 1898,:T.Q.8.. 643,' : 653; '■ in" .re: Ivershaw ".Trusts G.): (2) Ahram v. -'Aldridfee, 'L.T.':'.ssi, ; ' 556. "Construction of ; Wills"-(1)' Gorrin<»o v. ■Mahlstedt, ■ 1907,-.'A.C. • 225 (Lord Halsbury).-' (2); Wright v.: Jesson',' 1816; -5'M. Ethtl S. '95' 97. . "Legaoy' payable to rinfants"^!) : Infants -Aot,?1808} (2) St. 12 Car Ili c. 24: (3) Sine v.' Hume, .20 N.B.L'.R. 191; U) Ifl re'Eathbdue/25 i N.Z.L.R-.v 476. - : ' Br .counsel , for; Bowlbv v. 'Bowlby, 10M,: 2 Ch. 685. (2) Trustee' .Aot, 1908, Section'll3,,•Sub-saction' 2. - > -.--