Date of this Version
Mr Clay died testate on 20 November, 1970. Some time before his death, Mr Clay had acquired absolute registered ownership of a residential property at 24 Queenslea Drive, Claremont, Western Australia (hereinafter the property). The property became an asset of Mr Clay’s deceased estate. Mr Clay had made his will on 17 October, 1969, in which he had purported to appoint two executors and trustees. However, for reasons which are of no present relevance, probate of the estate was granted on 10 October 1972 to only one of the two executors and trustees named in the will: David Merritt Speed (hereinafter the executor). Under Mr Clay’s will, the executor was empowered to make advancements out of the income and/or corpus of the estate to Mrs Clay to a maximum of $20,000 a year, the residuary estate being given, in equal shares, to the stepchildren and Simone Clay.