Thellusson Will Case
Encyclopedia
The Thellusson Will Case is an English trusts law
case. It was a law suit resulting from the will
of Peter Thellusson
, an English
merchant (1737-1797).
He directed the income of his property, consisting of real estate of the annual value of about £5000 and personal estate amounting to over £600,000, to be accumulated
during the lives of his children, grandchildren and great-grandchildren, living at the time of his death, and the survivor of them. The property so accumulated, which, it is estimated, would have amounted to over £14,000,000, was to be divided among such descendants as might be alive on the death of the survivor of those lives during which the accumulation was to continue.
The bequest was held valid (Thellusson v. Woodford, 1798, 4 Vesey, 237). In 1856, there was a protracted lawsuit as to who were the actual heirs. It was decided by the House of Lords
(June 9, 1859) in favour of Lord Rendlesham
and Charles Sabine Augustus Thellusson. Owing, however, to the heavy expenses, the amount inherited was not much larger than that originally bequeathed.
To prevent such a disposition of property in the future, the Accumulations Act 1800 (known also as the "Thellusson Act") was passed, by which it was enacted that no property should be accumulated for any longer term than either
The act, however, did not extend to any provision for payment of the debts of the grantor or of any other person, nor to any provision for raising portions for the children of the settlor, or any person interested under the settlement, nor to any direction touching the produce of timber or wood upon any lands or tenements. The act was extended to heritable property in Scotland
by the Entail Amendment Act 1848, but does not apply to property in Ireland
. The act was further amended by the Accumulations Act 1892, which forbids accumulations for the purpose of the purchase of land for any longer period than during the minority of any person or persons who, if of full age, would be entitled to receive the income.
It is believed that the Thellusson Will case provided the basis for the fictional case of Jarndyce and Jarndyce
in Charles Dickens
' novel Bleak House
.
English trusts law
English trusts law is the original and foundational law of trusts in the world, and a unique contribution of English law to the legal system. Trusts are part of the law of property, and arise where one person gives assets English trusts law is the original and foundational law of trusts in the...
case. It was a law suit resulting from the will
Will (law)
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his/her estate and provides for the transfer of his/her property at death...
of Peter Thellusson
Peter Thellusson
Peter [de] Thellusson was a French-Swiss businessman and banker who settled in London.Thellusson was a member of a Huguenot family which had fled France for Geneva in the 16th century. His father Isaac had started a Swiss bank and became the Genevan ambassador to Paris...
, an English
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
merchant (1737-1797).
He directed the income of his property, consisting of real estate of the annual value of about £5000 and personal estate amounting to over £600,000, to be accumulated
Capital accumulation
The accumulation of capital refers to the gathering or amassing of objects of value; the increase in wealth through concentration; or the creation of wealth. Capital is money or a financial asset invested for the purpose of making more money...
during the lives of his children, grandchildren and great-grandchildren, living at the time of his death, and the survivor of them. The property so accumulated, which, it is estimated, would have amounted to over £14,000,000, was to be divided among such descendants as might be alive on the death of the survivor of those lives during which the accumulation was to continue.
The bequest was held valid (Thellusson v. Woodford, 1798, 4 Vesey, 237). In 1856, there was a protracted lawsuit as to who were the actual heirs. It was decided by the House of Lords
House of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
(June 9, 1859) in favour of Lord Rendlesham
Peter Thellusson, 1st Baron Rendlesham
Peter Isaac Thellusson, 1st Baron Rendlesham was a British merchant and politician.Thelluson was the eldest son of Peter Thellusson, a wealthy London merchant who had emigrated to Britain from France in 1760, and his wife Ann, daughter of Matthew Woodford...
and Charles Sabine Augustus Thellusson. Owing, however, to the heavy expenses, the amount inherited was not much larger than that originally bequeathed.
To prevent such a disposition of property in the future, the Accumulations Act 1800 (known also as the "Thellusson Act") was passed, by which it was enacted that no property should be accumulated for any longer term than either
- the life of the grantor; or
- the term of twenty-one years from his death; or
- during the minority of any person living or en ventre sa mereEn ventre sa mereThe French phrase en ventre sa mere refers to a fetus in utero. It is commonly used in legal English.A child which is still "en ventre sa mere" is accepted to be a minor, provided it is subsequently born alive....
at the time of the death of the grantor; or - during the minority of any person who, if of full age, would be entitled to the income directed to be accumulated.
The act, however, did not extend to any provision for payment of the debts of the grantor or of any other person, nor to any provision for raising portions for the children of the settlor, or any person interested under the settlement, nor to any direction touching the produce of timber or wood upon any lands or tenements. The act was extended to heritable property in Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
by the Entail Amendment Act 1848, but does not apply to property in Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. The act was further amended by the Accumulations Act 1892, which forbids accumulations for the purpose of the purchase of land for any longer period than during the minority of any person or persons who, if of full age, would be entitled to receive the income.
It is believed that the Thellusson Will case provided the basis for the fictional case of Jarndyce and Jarndyce
Jarndyce and Jarndyce
Jarndyce and Jarndyce is a fictional court case in Chancery in the novel Bleak House by Charles Dickens.The case concerns the fate of a large inheritance. It has dragged on for many generations prior to the action of the novel, so that, by the time it is resolved late in the narrative, legal costs...
in Charles Dickens
Charles Dickens
Charles John Huffam Dickens was an English novelist, generally considered the greatest of the Victorian period. Dickens enjoyed a wider popularity and fame than had any previous author during his lifetime, and he remains popular, having been responsible for some of English literature's most iconic...
' novel Bleak House
Bleak House
Bleak House is the ninth novel by Charles Dickens, published in twenty monthly installments between March 1852 and September 1853. It is held to be one of Dickens's finest novels, containing one of the most vast, complex and engaging arrays of minor characters and sub-plots in his entire canon...
.