In 1930 plaintiff received certain shares of stock from his uncle by way of outright gift. Seven months later, in order to decrease inheritance taxes at the time of the death of the donee, a declaration of trust was prepared and executed by the original donor as settlor, and indorsed by the donee "as Trustee, to evidence his acceptance of the Trusts herein expressed," at which time the donee surrendered the certificate of shares originally given him and was issued a new certificate as trustee. Plaintiff now sues for an annulment of the instrument. Held, the document was void as a deed of trust, since the settlor had no property interest in the shares nothing passed to the donee as trustee, or to the beneficiaries. Nor was a trust created in donee's own property in favor of the beneficiaries. Coleman v. Coleman, (Wash. 1946) 17I P. (2d) 691.
L. B. Brody S.Ed.,
TRUSTS-WHERE SETTLOR HAS PREVIOUSLY MADE AN ABSOLUTE GIFT OF CORPUS TO TRUSTEE-SELF DECLARATION OF TRUST,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol45/iss4/13