State Street Bank & Trust Co. v. Alden

As originally executed in February, 1973, the trust was silent as to the governing law, but the settlor amended the trust in December, 1973, to provide that “[t]he laws of the State of Vermont shall govern the interpretation of this *1012instrument.” The trustees represent that under Vermont law (unlike Massachusetts law, see Dana v. Gring, 374 Mass. 109, 117-118 [1977]), the trust would likely be interpreted to give the settlor’s widow a general power of appointment not limited by any ascertainable standard related to her health, support, education, or maintenance. The value of assets subject to…