Duncan v. Elkins

I. The first question transferred is “Has the petitioner

authority to exercise the discretion with respect to investment conferred upon the former trustee who was the executor named in the will?” The original trustee was given “full power at any time to invest and reinvest and full power as to the character of the investments” of the fund of $8,000. When the settlor, as was the case here, fails to specify that successor trustees may exercise the powers conferred upon the original trustee, such powers can properly be exercised by successor trustees, when they are “not of a character leading to…