The testator left his estate to trustees with directions to pay the income to his widow and three sons in equal shares, the principal to vest in the sons upon his widow's marriage or death. The widow in addition was given the use of the family homestead or the use of a new home not to exceed the price of $25,000. The homestead, valued at $200,000, became undesirable for residential purposes due to the growth of the business center of the city. The widow petitioned the court to direct the trustees to pay her $15,000 a year from the trust fund in exchange for the surrender of her interest in the homestead in order that she might maintain herself in a residence such as she contends her husband would have desired. The court suggested that such a scheme might be arranged if there were a purchaser for the property, but held that the petition should be denied on the basis that under present conditions the request would result in disturbing the property rights of the other beneficiaries in the trust to retrieve the loss of the widow occasioned by changed circumstances not provided for in the trust instrument. Fidelity Union Trust Co. v. J. R. Shanely Estate Co., (N. J. Ch. 1933) 167 Atl. 865.
TRUSTS - CHANGE OF CIRCUMSTANCES AS BASIS FOR VARIATION OF TRUST INSTRUMENT,
Mich. L. Rev.
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