Warner v. Whitman

On August 6, 1924, Stephen Y. R. Crosby executed an irrevocable indenture of trust. Under it he gave his trustees discretionary power to pay one half of the income to his daughter, Katharine Schuyler Choate, for life, and one half to his son, Henry, for life. Upon the death of Katharine her interest was to “revert to her surviving children, share and share alike.” Elsewhere the indenture provided that after the death of all the beneficiaries the principal and accumulated income were to revert to the settlor. By a separate instrument dated September 12,1949, the settlor assigned to The…