The Family of James and Elizabeth Hull: Wills

JAMES:

James Hull of West-Cliff, Preston, appointed his friends, William Kenyon, a sheriffs officer; Richard Westhead, a furniture dealer; and John Allan Parkinson, a land agent and surveyor, all of Preston; as the executors and trustees of his estate.

The executors were empowered to rent out his real estate and leasehold properties and convert to cash any property necessary to pay his funeral and testamentary expenses and to create a trust fund with which to pay the legacies mentioned in the Will.

He directed that his "very dear wife Elizabeth" continue to live in their residence in West-Cliff; have use of all furniture, silverplate, linen, china, glass, books, prints, pictures, musical instruments, and all other household goods; Horses, carriages, harnesses and all related items, for the rest of her life as his widow. Elizabeth was to live in their house in West-Cliff rent free, but was responsible for the ground rent and upkeep. If she chose not to live in the home, the trustees could rent the house and pay the net income to Elizabeth, or sell the house and pay her a sum equal to 4% per annum of the proceeds of the sale. She was also to receive £500 as soon as was convenient after his death and then an annuity of £600, clear of all deductions and expenses, paid yearly in two installments from the trust fund.

After paying the £600 per year to Elizabeth, the balance of the trust fund was to be divided into four equal parts and held in trust for his sons, Robert, George, James and Joseph, with the income from those funds paid to his sons when they reached the age of 21 years or married before reaching that age. After their death the income was to be paid to their children, if any.

Of his own personal property, he gave his diamond ring to his son Robert, his gold watch and sapphire ring to his son George, his emerald ring and gold studs to his son James, and his gold Albert chain to his son Joseph along with £20 to buy a gold watch. (Joseph was to receive the £20 even if he had not yet turned 21)

He directed that the business partnership he had formed with his two eldest sons through an Indenture dated 8 September 1888, was to continue until it's expiration date of 1 January 1898. His son James Jr. was to be made a partner as soon as James Sr. died, and his youngest son Joseph was to be made a partner as soon as he turned 21 years of age. James Senior's profit share was to remain in the partnership until the expiration date, then was to form a part of his trust fund. His sons were to conduct all business regarding the partnership at their sole discretion, "...It being my intention to give my said sons ample power and authority and the greatest latitude to carry on the said partnership business...".

The trustees were to allow the sons to act in the management of the partnership business as if they were the absolute owners. The trustees were not to be held responsible for any losses, debts, etc., incurred by the partnership and any such debts were to be paid by the estate. "I hereby express a sincere wish that my said sons shall work harmoniously together and that they will regard and respect my intentions and do all in their power to assist and help in the management of the said partnership business and that at the expiration of the said partnership my said sons will, if living, be united and continue to carry on the said business."

The trustees had sole discretion in selling or dividing the real and personal property of James' father Robert Hull to the best advantages and continue any investments, stocks, etc., no matter how risky, and would not be held responsible for any losses incurred. (James was co-executor of the estate of his late father Robert Hull, which was probated in 1875 valued at approximately £16000 with leaseholds)

"I appoint my wife during her life, providing she continues my widow, to be the guardian, and after her decease or marriage again my trustees, to be the guardians of the person and fortune of my infant son Joseph." (Joseph was 17 years old)

He appointed his trustees to replace him as the co-trustee of his father's estate along with Cuthbert Blacow, the other trustee.

All of his servants and his coachman were to receive a full suit of mourning clothes.

James signed the Will with his mark on 24 May 1889, and his mark was witnessed by William Banks and John E. Underhill, Solicitors, Preston.

On 24 January 1891, James Hull wrote a codicil to his Will in which he revoked the appointment of his above mentioned trustees and appointed his sons Robert, George, James and Joseph (when he turned 21) to be his executors and trustees. He also directed that the £600 annuity to his wife would be divided between his four sons, their heirs, assigns, etc., after her death.

In all other respects the Will remained unchanged, and James signed the codicil with his mark, which was witnessed by William Banks, solicitor, and Robert Charles Brown, M. B., of Preston.

On the seventh day of January 1892, Probate of this Will with a codicil was granted to Robert Hull, George Hull and James Hull, three of the executors.

Effects: £26,952 17s 2d.