Lara I’m very pleased to meet you. I know you will enjoy your time at St Leonards. It won’t be all learning. There are many sports you can play such as hockey, netball and swimming. I’m sure you will make lots of friends as well.’
‘Thank you. Can Nanny stay with me while I’m here?’
‘I’m sorry dear, but that wouldn’t be possible. Nanny has many things to do before she picks you up at 3 pm. I will take you to your classroom where you can meet your teacher, Miss Cooper, and meet the other children in your class. Say goodbye to Nanny – she’ll be back before you know it.’
The Headmistress thanked Lisbeth for taking Lara’s hand as she led her through the school’s corridors until she reached the First Grade classroom.
Miss Cooper instructed the children to stand as Mrs Humphries entered along with Lara.
‘Children this is Lara. I’d like you all to say hello and make her feel welcome.’
The First Grade students all said ‘hello’ in unison. Lara was shown her desk, a timber top with a tubular steel frame. Although nervous she was beginning to feel more comfortable. The day encompassed drawing, singing and playing with blocks.
At 3 pm Nanny returned to find Lara waiting at the front of the main building along with another girl called Megan. The two girls had already formed a friendship
‘Here’s my nanny Megan. I better go, see you tomorrow.’
‘Goodbye Lara.’
‘Hello, darling. How was your first day?’ asked Lisbeth.
‘It was splendid Nanny. I met a new friend called Megan.’
‘That’s wonderful.’
Lisbeth and Lara chatted on the short trip home. The nanny was delighted at how her demeanour had completely changed since the morning.
London September 15, 1948
London Middle Temple Lane
The inaugural Trust meeting was due to be convened at Sir Horace’s chambers in the heart of the London’s legal area, ‘The Temple.’
The meeting was due to begin at 3 pm. Mrs Humphries took the train from Castle Cary, the closest station to the school; a two-hour journey.
Mr Harmsworth’s offices were in London. A thin man with horn rim glasses, he spoke with a slight stutter but was regarded as a financial genius.
Lord Andrew de Neville, who didn’t work at all and never really had in his forty-five years resided in Bath, drove himself in his Aston Martin DB2.
Lord de Neville was born into wealth and used his family’s vast resources to purchase expensive cars and travel abroad first-class. His other passion was women, expensive women; Lord de Neville spent large amounts of his wealth on diamonds and expensive jewellery to keep his lady friends happy.
Once all the trust members arrived they were ushered into the chamber’s meeting room and seated at the meeting table.
It was magnificent; the panelled walls and portraits of past members of chambers adorned the room. The long table and chairs would have suited a royal household.
Sir Horace called the meeting to order and addressed the trust members.
‘As you are all aware, this trust has been established to manage the affairs of Lara de Neville, also known as the Countess de Neville. I think we all agree that our main priority is to ensure Lara receives a proper upbringing and is educated to the highest level.
‘Miss Lisbeth Forsyth, Lara’s nanny for the past six years, has agreed to continue caring for the girl in the role of legal guardian. I have made application to the court to have her appointment approved. I think we should all be pleased that the young girl will have some continuity in her life.
‘I call on Mr Harmsworth to brief us on the financial status of the de Neville estate.’
‘Thankyou Sir Horace, ladies and gentlemen. I’m sure you are all aware the de Neville land holdings are quite vast including Westmoreland Manor in Somerset and Raby Castle, in Scotland. A townhouse in South Kensington and a villa in Nice, France are also owned by the estate.
‘Currently, the London townhouse and the French Villa are being leased on a long-term basis. As well as the real estate assets the family has an extensive share portfolio together with debentures and Government bonds.
‘Finally, the furniture and artworks in the manor and castle are valued at well over a million pounds.’
‘Mr Harmsworth, have you been able to estimate the total value of the estate?’ asked Lord de Neville.
‘At this stage, it is estimated the value of the de Neville estate is around £25,000,000.’
‘My God, I had no idea Harry was so wealthy,’ said Lord de Neville.
‘Well, the family have been building their wealth over the centuries and have been careful managing it.’
‘Thank you Mr Harmsworth, the trust has a duty not only to maintain the wealth of the estate but to grow it until Lara is entitled to her inheritance at age 18,’ said Sir Horace.
‘Sir Horace, will the members of the Trust get remunerated for the time spent on Trust business?’ asked Mrs Humphries.
‘Yes, all members will be paid at the same rate, £50 pounds an hour. I arrived at this figure based on my standard hourly rate for estate management. I would expect Mr Harmsworth and I will spend the most amount of time on trust business; you and Lord de Neville will be remunerated for the meetings attended, including travel time.’
‘Are there any implications for the estate regarding death duties?’ asked Lord de Neville.
‘No, the law stipulates that if a minor is under 18 and a trust has been established, there’s no inheritance tax if the assets in the trust are set aside just for bereaved minor, i.e. Lara.
‘It is also dependent on Lara becoming fully entitled to the assets by the age of 18.’
‘She shall be a very wealthy young lady.’
‘Indeed, she will be Lord de Neville.’
‘I understand that Lara will continue to reside at Westmoreland but what should we do with the other properties?’ asked Mrs Humphries.
‘Raby Castle is situated on 200 acres of prime farming land, it is more than self-sufficient, and therefore I think the property should be retained. The London townhouse and the Nice villa are both being leased and generate excellent revenue. Therefore, I recommend the property portfolio be retained.’
‘Thank you Sir Horace, I agree,’ said Mrs Humphries.
‘As you all are aware Mrs Humphries is headmistress at St Leonards Girl’s School in Somerset. We are not only fortunate to have her as a trustee she will also be reporting
