Bennett v. Tower Grove Bank & Trust Co

434 S.W. 2d 560 (Mo. 1968)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

A will ordered the bank, as trustee to pay a share of the trust income to testator's widow and a share to his daughter, Lois, and on the death of either both shares to the survivor, on the death of the survivor, the remainder was to go free of trust to three named nephews. There was to be no invasion of principal and no spendthrift restraints. The widow elected her statutory share against the will. There was no issue that the renunciation by the widow accelerated the trust to Lois as she became the sole life tenant. There was no issue that the remainder interests of the three nephews were vested interests. Lois then transferred her interest in the trust to the remaindermen and asked that the trust be terminated. The trustee opposed this action stating that the termination of the trust would thwart the intention of the testator. The court below agreed and refused to terminate the trust. Lois and the remaindermen appealed.