Death and estate
Sir Rupert Clarke died at Monte Carlo, Monaco, on 25 December 1926. He was survived by his widow and five children; his seven-year-old son Rupert succeeded to the Baronetcy. His widow remarried in 1928 to Terence Taylor, Earl of Bective (who succeeded his father as Marquess of Headfort in 1943) by whom she had two more children, including Michael Taylour, 6th Marquess of Headfort.
Probate of Sir Rupert's will was granted in Victoria in 1927. His Victorian estate was valued at approximlately £300,000, including real property valued at £81,005 and personal property valued at £203,882, upon which £23,000 in death duties were levied. In Victoria the largest real property asset was his Bolinda Vale property near Lancefield, which then comprised 4,622 acres (1,870 ha). The personal estate in Victoria consisted principally of bonds (approximately £128,000), shares (approximately £20,000), and debts owing to the estate (approximately £25,000).
His personal estate in New South Wales was valued at £91,114, and his personal estate in Queensland at £101,007.
Under the terms of his will and codicil, Sir Rupert made structured provision for his widow and children, with trust funds set aside as follows:
£100,000 for each surviving son, to be held in trust with income applied for maintenance and education, and to vest absolutely on attaining the age of 21.
£50,000 to be set aside as a separate fund for the son who, upon attaining the age of 21, succeeded to the baronetcy.
£60,000 for each surviving daughter, to be held in trust, with income payable for her sole and separate use.
In addition, Clarke provided his widow, Elsie, Lady Clarke with a life annuity of £5,000, as well a life interest in the income of hisresiduary estate, together with specified property interests in New South Wales.
After the death of his widow, the income from the residuary estate was to be held in trust for his children as tenants in common, with the daughters’ shares to remain settled so that income was paid to them for their separate use.
