duPont v. Delaware Trust Co.

MARVEL, Vice Chancellor:

On January 3, 1928, the late William duPont executed his last will and testament in which, after devising extensive real estate and bequeathing personal property located on such estates principally to his son and daughter and to a limited degree to their then spouses, he devised and bequeathed the residue and remainder of his estate to the defendant Delaware Trust Company in trust. His will went on to direct such trustee (after the payment of annuities to six designated persons) to pay sixty percent of the net income derived from such trust to his son William, Jr., and…