In re Matthews v [1980] JLR 139 (01 July 1980)

In re Matthews v [1980] JLR 139 (01 July 1980)

In the absence of a direction in the will, accumulated intermediate income attributable to the residuary estate is to be distributed as a gift in remainder to heirs on intestacy; a deferred residuary bequest does not carry intermediate income, nor can directions regarding income on shares be applied to income from residue.

Citation
[1980] JLR 139
Parties
Applicant: Matthews
Jurisdiction
Jersey
Judgment Date
01 July 1980
Procedural Posture
Succession Wills / Judgment
Outcome
Clarification granted
Legal Topics
Distribution of Residual Estate, Intermediate Income, Intestacy
Succession Law Wills and Probate Distribution of Residual Estate Intermediate Income Intestacy

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Parties

Matthews

Applicant

Procedural Posture

Succession Wills / Judgment

Legal Issues

  1. 1 How should accumulated intermediate income attributable to the residuary estate be distributed when the will contains no direction?
  2. 2 Does a deferred residuary bequest carry intermediate income?

Ratio Decidendi

In the absence of a direction in the will, accumulated intermediate income attributable to the residuary estate is to be distributed as a gift in remainder to heirs on intestacy; a deferred residuary bequest does not carry intermediate income, nor can directions regarding income on shares be applied to income from residue.

Court Disposition

Clarification granted

Orders

  • Accrued intermediate income on the residuary estate to be distributed as a gift in remainder to heirs on intestacy