Powell Estate

Opinion by

Mr. Justice Cohen,

Edward Powell, father of the decedent in this matter, established in 1920 an irrevocable inter vivos deed of trust. Under the terms of this trust his son, George Powell, the decedent, was to receive the net income during his lifetime. It was expressly provided that the principal and income of the trust were not to be liable for the debts, liabilities or engagements of the income beneficiary; nor could he dispose of any part thereof by pledge or anticipation in any manner.

The first paragraph of the inter vivos trust provides : “First : To hold the said Securities to…