Declaration of trust by way of testamentary disposition in favour of the niece of the testator
I give to my trustees the sum of Rs........ [free of estate duty payable upon or by reason of my death] with interest thereon from the date of my death until the appropriation thereof or of investments thereto at the rate of [........] per cent per annum upon trust to invest the same in or upon any of the investments hereinafter authorised with power from time to time to vary such investments for others of an authorised nature and to hold the same (hereinafter called the.............. trust fund) upon the following trusts namely:
(1) upon trust to pay the income of the said trust fund and the said interest payable from the date of my death to my niece A.B. wife of J.W. during her life or upon trust to hold the income of the trust fund and the said interest payable from the date of my death upon protective trusts for the benefit of my niece during her life;
(2) after the death of the said A.B. the said trust fund shall be held in trust for all or such one or more exclusively of the other or others of the children or remoter issue of the said A.B. at such time or times and if more than one in such shares and proportions and with such provisions for maintenance advancement and otherwise for the benefit of such children and issue or some or one of them at the discretion of my trustees or any other persons and generally in all respects as the said A.B. shall by deed or deeds revocable or irrevocable or by will or codicil without infringing the rule against perpetuities appoint;
(3) in default of any such appointment and subject to any partial appointment the said trust fund shall be held in trust for all the children or any the child of the said A.B. who shall attain the age of eighteen years or being female marry under that age if more than one in equal shares;
(4) no child of the said A.B. who or whose issue shall take any part of the trust fund under any appointment by the said A.B. shall in default of appointment to the contrary take any share in the unappointed part without bringing the share or shares appointed to him or her or to his or her issue into hotchpot and accounting for the same accordingly;
(5) in default of any issue of the said A.B. living to attain a vested interest in the whole of the trust fund the same shall upon her death be held in trust for such persons and purposes and generally in such manner as she shall by will or codicil appoint;
(6) in default of any such appointment and subject to any partial appointment upon trust for the person or persons who would have become entitled to the said trust fund at the death of the said A.B. if she had died intestate and a spinster and without a parent surviving her and the trust fund had formed part of her estate such person or persons if more than one to take in the same shares and proportions as they would have taken under the law in operation at her death;
(7) notwithstanding the foregoing trusts it shall be lawful for the said A.B. by will or codicil to appoint that the income of the trust fund shall be paid to any husband who may survive her during his life or for any less period or determinable upon the happening of any event.
IN WITNESS etc.
[Signatures of the parties]
