Petty's Estate (No. 1)

Opinion by

Mr. Justice Kephart,

David F. Petty entered into an insurance trust agreement with the Union Trust Company of Pittsburgh, wherein it was agreed the net proceeds of policies of insurance on his life should be collected at his death and held by the trust company, as trustee, under the terms thereof. Petty died November 30, 1930, and pursuant to the agreement the trustee collected $257,500. Petty by his will directed that the residue of his estate should be added to this fund and held upon the same trust. He believed his estate to be of greater value than it proved to be. There were not…