Woolley v. Preston
Court of Appeals of Kentucky
Case 68 — TRUSTS APPEAL FROM TOUISVILLE CHANCERY COURT. 1. After all trusts are executed, the trustees must convey as the cestui que trust directs. 2. A trustee can not hold a dry legal title for the purpose of casting a shadow upon the estate of the cestui que trust. 3. A restraint against, alienation, where there is neither forfeiture nor remainder over, is void and so is a similar restraint against the creditors of the cestui que trust. 4. The agreement made by the…
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Case 68 — TRUSTS APPEAL FROM TOUISVILLE CHANCERY COURT. 1. After all trusts are executed, the trustees must convey as the cestui que trust directs. 2. A trustee can not hold a dry legal title for the purpose of casting a shadow upon the estate of the cestui que trust. 3. A restraint against, alienation, where there is neither forfeiture nor remainder over, is void and so is a similar restraint against the creditors of the cestui que trust. 4. The agreement made by the trustees after all the trusts were executed to surrender the legal title, is valid and should be enforced. -6. The owner of an…
1Opinion of the CourtChief Justice Hines
The question presented is the construction of the will of Mrs. S. H. Woolley. She died in 1873, possessed of a large quantity of real estate in Kentucky and in the State of Arkansas, having personal estate of comparatively little value, and being indebted from $45,000 to 850,000. The will appointed William Preston and others, executors, and subsequently appellee, A. J. Ewing, was associated with William Preston, in the *417discharge of the executorial and trustee duties imposed by the will.
The pertinent clauses of the will are:
’■'•Second. I request my executors to collect the assets of my estate,…
2Cases cited2 opinions
- Mandlebaum v. McDonellMichigan Supreme Court · 1874
- Davidson's ex'rs v. KemperCourt of Appeals of Kentucky · 1880
3Cited by15 opinions
- Blake v. O'NealWest Virginia Supreme Court · 1908
- Hill v. HillNebraska Supreme Court · 1911
- Reuling's Extx. v. ReulingCourt of Appeals of Kentucky · 1910
- Carpenter v. Carpenter's TrusteeCourt of Appeals of Kentucky · 1905
- Brock v. ConkwrightCourt of Appeals of Kentucky · 1918
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