Estate Duty Office Will of William Budd late of Cullompton, Baker (1851)
© Crown Copyright
Devon Heritage Centre 1078/IRW/B/1760
Transcribed by Art Ames
Proved 12th December 1845 in the Archdeaconry court of Exeter
Appeared personally Richard Mortimore of Collumpton in the county of Devon squire and William Toogood of the same place banker the executors named in the last Will and Testament of William Budd late of Cullompton aforesaid baker deceased who died on the 15th day of August 1850
This is the last Will and Testament of me William Budd of Collumpton in the county of Devon baker made this twenty first day of March one thousand eight hundred and fifty
Whereas after my decease my wife Mary by virtue of the settlement made preparatory to our marriage will be entitled to the interest of one hundred and thirty pounds and also to the rents and profits of a dwelling house and premises situate in Duck Street in Collumpton aforesaid and my son Charles Budd being the only issue of the said marriage will on the decease of his mother be entitled to the said principal sum of one hundred and thirty pounds and to the said dwelling house and premises now I do hereby confirm the said settlement and declare that the provision hereinafter made for my said wife and my said son Charles is intended to be in addition to the provision made under the said settlement
I will that my said wife and my son William shall be liberty to reside in the dwelling house and premises where I now reside if my trustees shall think fit
I give the goodwill of my baking business which is not meant to include my stock in trade and all my movable baking utensils unto my said son Charles his executors administrators and assigns on condition that he or they shall in consideration thereof carry on my said baking business in the house shop and premises where I now carry on the same and shall pay my trustees and executors hereinafter named such annual sum as and for rent for the same dwelling house shop and premises as my trustees and executors shall fix or determine for such time as my said wife and said son William shall continue to reside there and such annual sum as and for rent from such time as they shall cease to reside there as my trustees and executors shall fix or determine to be the yearly value thereof such rent to be paid quarterly and I give my said trustees and executors powers of distress and entry for the recovery of such rent or rents in the like manner as if the same had been secured by a lease for years
All the rest residue and remainder of my real and personal estate whatsoever and wheresoever the same shall happen to be I give devise and bequeath unto my friends Richard Mortimore of Collumpton aforesaid esquire and William Toogood of the same place banker and the survivor of them his heirs executors and administrators to the uses upon the trusts and for the purposes hereinafter mentioned (that is to say) after paying my just debts funeral and testamentary expenses and keeping my dwelling houses and buildings in repair and insured against loss or damage by fire
Upon trust as to my household goods and furniture to permit and suffer my said wife to have the use thereof during her life (an inventory thereof to be taken after my decease) and to pay one moiety of the clear rents and profits or incomes arising or to arise from my said residuary estate to my said wife during her life
And to the apply the other moiety of such rents and profits or incomes or the maintenance and taking care of my said son William during his life
And on the death of either of them my said wife or said son William to pay or divide a moiety of the said rents and profits or incomes to and amongst my children namely Harriet Hart James Budd and my said son Charles share and share alike in equal proportions during the life of the survivor of them my said wife and said son William.
And upon the death of such survivor upon trust as to the whole of the residue of my said real and personal estate for my said children Harriet James and Charles their heirs executors administrators and assigns as tenants in common my will being that my said residuary estate should be so divided without converting the same into money if my trustees approve thereof and that they should secure to my said son Charles his heirs and assigns the dwelling house shop and premises in which I now reside he paying or satisfactorily securing to my said trustees the difference between the value in which they shall estimate such dwelling house shop and premises and the amount which they shall value the share of my said son Charles in my residuary estate under this my Will
But in case my said trustees shall find it difficult to make such equal divisions without a sale of such residuary estate or if it shall appear to them more desirable or satisfactory to have such sale then it shall be lawful for them to do so and divide the proceeds thereof in manner aforesaid
Provided nevertheless and I do hereby declare that in case the provision hereinbefore made for my son William shall not in the opinion of my trustees and executors or the survivor of them or the heirs executors or administrators of such survivor at any time or times to be sufficient for the proper maintenance and taking care of my said son William it shall be lawful for them my trustees and executors and the survivor of them his heirs executors and administrators by sale or mortgage of any part of my real or personal estate or by any other means he or they shall think fit to raise and apply such some or sums of money as he or they shall deem sufficient for the proper maintenance and taking care of my said son William anything hereinbefore contained in any wise to the contrary notwithstanding
Provided also and it is hereby declared that the receipt of my said trustees and the survivor of them his heirs and theirs or his assigns shall be a good discharge for all monies which in such receipt shall be expressed to be received and that all persons paying any money to them or the survivor of them or their or his assigns for the purposes of this my Will and taking a receipt from him or them accordingly shall not be obliged to see to the further application of the same monies nor be accountable for the misapplication thereof
Provided also that on the death refusal or incapacity to act of either of them my said trustees or of any trustee or trustees to be appointed in his or their place or stead it shall be lawful for the acting trustee or trustees for the time being of this my Will or the executors or administrators of the last acting trustee to appoint a new trustee or trustees in the place or instead of such trustee so dying refusing or becoming incapable to act as aforesaid and thereupon the said hereditaments trusts estate and premises shall be conveyed and assured so that the same may vest in such new trustee or trustees jointly with the surviving or continuing trustee or solely as the case may require and in his or their heirs executors administrators and assigns to the uses upon the trusts and for the ends intents and purposes hereinbefore declared
And that every such new trustee either before or after such conveyance shall have and may exercise the same powers and authorities as if he had been appointed a trustee by this my Will
And that none of the trustees appointed or to be appointed as aforesaid shall be answerable for the other of them or for the acts deeds or defaults of the other of them nor for involuntary losses nor for money received under receipts in which they shall join only for conformity and that the present and every future trustee shall and may reimburse themselves and each other out of the said trust premises or out of any monies that may come into their hands by virtue of these presents all costs and expenses to be incurred by them in the execution of the trusts aforesaid or any wise in relation thereunto
And I appoint the said Richard Mortimore and William Toogood joint executors in trust of this my Will and I hereby revoke all other Wills by me at any time heretofore made and do declare this present writing contained in four sheets of paper to be my last Will and Testament in witness whereof I have hereunto set my hand the day and year first above risen
William Budd
Signed published and declared by the said William Budd the testator as and for his last Will and Testament in the joint presence of us who in his presence have hereunto subscribed our names as witnesses this twenty first day of March one thousand eight hundred and fifty
Robt Burrow solicitor Collumpton William Cross