Irwin Union Bank & Trust Co. v. Long
160 Ind. App. 509, 312 N.E.2d 908 (1974)
Nature of the Case
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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.
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