Pond v. Pon

678 N.E.2d 1321 (1997)

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Nature of the Case

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Facts

Sidney Pond executed his last will and testament on 1-17-91. On the same day, he, as settlor, executed a declaration of revocable trust naming his wife and himself as beneficiaries. Sidney and his wife then transferred all their assets except the marital home into the trust. Sidney died on 2-26-96. The trust instrument provided that during the settlor's lifetime, all of the annual income and such principal as deemed necessary by the trustees were to be paid to settlor and his wife. The trust made no provision for income or principal to be paid to his wife if she were to survive the settlor. The trust provided that on the death of the settlor the trust shall terminate and its assets to should distributed to the children in equal shares. In his will, Sidney gave all his tangible personal property to his wife and the residue of his estate to the trust. A tax clause in the will authorized his wife the sole, unrestricted discretion to elect the federal estate marital deduction. However, the trust must provide the surviving spouse a qualifying income interest for life in order to take that deduction. P contends that scrivener’s errors are apparent when the purposes of the trust are considered. P requested the court to reform the trust.