686. Creation by will; in general.

Annuities1 can be created by a valid will2. Annuities will generally be included in the term 'legacies'3. The creation by will of an annuity for life may be effected in any of the following ways: (1) a simple bequest of an annuity4; (2) a simple bequest followed by a direction to the trustees of the will to set apart a fund to provide for the annuity or a power for them to do so