Stanley, I have found the will of Reverend William Bracewell, son of Elizabeth and William Metcalf Bracewell, who died at Sheffield 18th August 1954. Effects: £8796-7s-5p I don't think he would have made that sort of money as a vicar in the Church Of- England.
You say the judge told Elizabeth and Billycock to go and sort things out themselves. I don't think Billycock would want Elizabeth to get her hands on the money, for if she married again the money would go out of the Bracewell family. Perhaps it was decided to give most of William Metcalfs estate to his son (and maybe the two daughters) with a nice little income for Elizabeth to have a comfortable life. How did Rev. William get that sort of money if not from his father's estate?
Wills: William Metcalf Bracewell 1880 = £20,119-18s-6p
William 'Billycock' Bracewell 1885 = £18,640-15s-11p
Christopher George Bracewell 1889 = £580-6s-1p (only)
Elizabeth Bracwell 1916 = £423-6s-7p
Rev William Bracewell = £ 8796-7s-5p
I also found an obitury of William 'Billycock' Bracewell in the Manchester Times 14th March 1885, a day after his death.
'The nonconformists churches of the district have lost a liberal friend. He built the Wesleyan Chapel-------at the cost of £8,000 or £10,000, and also presented day schools.------ Other churches received substantial assistance from him.'
Interesting. More you dig and more you want to find out!!