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Annuities - Satisfaction Of Prior Deficiencies From Income Surplusages Of Subsequent Years, Edward H. Adams
Annuities - Satisfaction Of Prior Deficiencies From Income Surplusages Of Subsequent Years, Edward H. Adams
Michigan Law Review
Testatrix left her estate in trust for the purpose of paying certain sums of money annually to named beneficiaries. In a codicil to her will, she provided that in case there was insufficient income to meet expenses and pay all annuities stated, certain of the beneficiaries were to be preferred. Deficiencies occurred so that all sums were not paid, but subsequently there was surplus income which the trustees desired to apply to the prior deficiencies. Held, one justice dissenting, that the surplus after paying the annuities for the present year could be applied to the deficiencies which had occurred …
Wills - Provisions For Construction Of The Will By Umpire Named By Testator, Alfred I. Rothman
Wills - Provisions For Construction Of The Will By Umpire Named By Testator, Alfred I. Rothman
Michigan Law Review
Testatrix created a trust and bequeathed one-fifth of the income to her son W and to S, his wife, with a proviso that if S survived her husband such income should not be paid to her in case she remarried. S divorced Wand remarried. Under a clause in the will giving them the power to determine with finality any question as to the construction or administration of the will, the executors and trustees construed the will to mean that S was not to receive any further share of the income, that testatrix would consider the divorce and remarriage during …
Adoption -Trusts-Wills- Adopted Child's Right To Take Under A Trust For "Issue", Michigan Law Review
Adoption -Trusts-Wills- Adopted Child's Right To Take Under A Trust For "Issue", Michigan Law Review
Michigan Law Review
The settlor established a trust with himself, his wife, and his four children as beneficiaries. Under the trust deed the property was to vest in the "lawful issue" of the settlor's children on the death of his last surviving child. Held, that the term "lawful issue" included the plaintiff (an adopted child of settlor's daughter). Walker v. Obrien, (C. C. A. 9th, 1940) 115 F. (2d) 956, cert. den. (U.S. 1941) 61 S. Ct. 829.
Wills - Construction - Limitation Of Defeasance Clause, Herbert R. Whiting
Wills - Construction - Limitation Of Defeasance Clause, Herbert R. Whiting
Michigan Law Review
Testatrix died leaving as her only heirs at law and next of kin a son, Thomas, and a grandaughter, Malinda, to whom she devised her estate in approximately equal shares. At the time she executed her will Thomas was twenty-two years of age and unmarried and Malinda was eleven. The principal case turns on the construction of a clause in her will, devising a parcel of land to Malinda, which reads as follows: "I give and bequeath ... the same to the said Malinda McK. Young and her children but if the said Malinda McK. Young shall die before she …