Record revealed
Jane Austen’s will
Series
Catalogue reference: J 338
J 338
These Direction Books provide an audit of the stages for settlements and directions by the Administrators of the estate or investment directions by Masters in Chancery pertaining to particular estates. Typically, they are arranged chronologically...
These Direction Books provide an audit of the stages for settlements and directions by the Administrators of the estate or investment directions by Masters in Chancery pertaining to particular estates. Typically, they are arranged chronologically by ledger entry, and contain the following details: title of the action; action taken (e.g. sold or bought shares) with percentage interest rate; date of the Order for the action; date of the report; 'Certe' probably comprising the name of the Solicitor or Administrator who was acting for the estate, and the amount of money expended for investment and in costs of administration.
Upon application by the Solicitor to the Chancery trial judge to sanction proper terms of settlement for the infant or mentally unstable subject, the judge will either give a direction as to how the money is to be apportioned or otherwise dealt with in response to the Administrators requests. An Order approving the settlement follows this direction. Upon agreeing a settlement or lump sum for the subject of the estate, an investment direction would have usually immediately followed. Failure by the solicitor or administrator to ensure that the settlement would have realised its full accrued value by approach to the Masters in Chancery to ensure proper investment directions could result in litigation by the subject upon reaching age of entitlement; the solicitor could be invited to make up the lost interest through their own funds. More usually the judge would have referred the the matter covered by the direction to a Master in Chancery to make the necessary Order as judges usually lacked the relevant expertise and experience to make investment decisions on behalf of the estate.
Ledgers are arranged chronologically by entry.
See also C 277
in 2010 Ministry of Justice
Records of the Supreme Court of Judicature and related courts
Chancery and Supreme Court: Chancery Division: Directions
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