Bankers Trust Co. v. Moy

This is an action brought by plaintiff bank as trustee for the judicial construction of a certain trust agreement executed as grantor by Edgar Speyer, who died on February 18, 1932. On January 6, 1925, said grantor executed a trust agreement with the plaintiff bank as trustee, whereby he transferred to the trustee certain securities, one-third of the income of which the plaintiff, as trustee, was directed to pay over during the trust period (the lives of two of the daughters) to each of the grantor’s three daughters during their respective lives. The trust agreement provides that in the event…