Central National Bank v. Morris

Andrews, Chief Referee.

On August 1, 1962, James F. Lincoln executed his will. By Item IV thereof he gave the residue of his property to Central National Bank of Cleveland upon certain trusts. Part A of Item IV relates to a marital deduction trust, and does not concern us. Part B refers to certain living trust agreements made for the benefit of seventeen grandchildren in being on January 15, 1956. It incorporates the living trust agreements and creates new testamentary trusts for each of the grandchildren born after that date, *168five in number. Provision is made for equalizing the twenty-two…