Re Cochrane’s Settlement Trusts

Subject Matter

REVENUE — Estate duty — Marriage settlement — Income of trust fund settled by husband payable to wife for life to be expended in current household expenses — On wife's death income to settlor for life — Income used during joint lives by wife for personal expenditure — Interest “reserved …. by implication to the settlor” — Release or abandonment thereof — Death of settlor — Liability to estate duty — Finance Act, 1894 (57 & 58 Vict., c. 30), s. 2, sub-s. 1 (c) — Customs and Inland Revenue Act, 1881 (44 Vict., c. 12), s. 38, sub-s. 2 (c).