Second Bank State Street Trust Co. v. Second Bank State Street Trust Co

140 N.E.2d 201 (1957)

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Nature of the Case

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Facts

The settlor put assets in trust to pay income for life to him and thereafter to his wife, Josephine for life. After the death of his wife and him, the trust was to be held for the benefit of the children of Allan and the issue of any child who may have deceased, various provisions were made if the children predeceased, and per stirpes was designated, and at the expiration of 21 years after the death of the last survivor of the children of Allan, the trust shall terminate and the trust estate shall be distributed among such issue, per stirpes and not per capita and until the termination of the trust, the trust estate shall be held together and administered as one trust. There was no power of revocation or amendment. The settlor died, and his widow and four children of the settlor are now living. The question of whether the remainder interests were valid arose.