FUTURE INTERESTS-CONSTRUCTION-WHEN CLASS CLOSES IN CASE OF PER CAPITA CLASS GIFT

Authors

William K. Davenport S.Ed., University of Michigan Law SchoolFollow

Abstract

Testator died in 1928 leaving an estate of $10,000,000. His will provided that each of his grandsons, two of whom were alive at his death, was to receive the income of a $100,000 trust for life. The residue of his estate was left in another trust and was to remain intact until the expiration of 21 years after the death of testator's last surviving grandchild living at the time of his death. Meanwhile the income from this trust was to go to various other legatees. When another grandson was born in 1949, the question arose whether a $100,000 trust should be created for him out of the residuary trust. The Orphans' Court refused to create one on the ground that the class had closed at testator's death. On appeal, held, reversed. The class remains open until distribution of principal at the termination of the residuary trust. In re Earle's Estate, 369 Pa. 52, 85 A. (2d) 90 (1951).

Recommended Citation

William K. Davenport S.Ed., FUTURE INTERESTS-CONSTRUCTION-WHEN CLASS CLOSES IN CASE OF PER CAPITA CLASS GIFT, 51 Mich. L. Rev. 305 (1952).
Available at: https://repository.law.umich.edu/mlr/vol51/iss2/16