Irwin Union Bank & Trust Co. v. Long

160 Ind. App. 509, 312 N.E.2d 908 (1974)

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

Long (P) obtained a judgment against her ex-husband in a divorce decree. To satisfy the judgment, she sought to execute on funds in a trust set up for her ex-husband by his mother. The trust instrument gave the husband the right to withdraw up to 4% of the principal of the trust in any given year. The lower court held that this amount of the trust principal was not exempt from execution, and ordered a writ of execution. The trustee (D) appeals. On appeal, the court found that the right to elect to withdraw principal was a general power of appointment.