Weymouth v. Delaware Trust Co.

Pearson, Vice-Chancellor:

The question is whether a trust may be revoked by the sole beneficiary, who is also the settlor, where the trust instrument contains provisions declaring the trust irrevocable and attempting to restrict anticipation, alienation, or transfer of the beneficiary’s interest under the trust, and to limit the rights of his creditors with respect to his interest.

In January 1940, complainant, the corporate respondent, and one C. R. Martin entered into a trust agreement. Complainant was the settlor, and he, the corporate respondent, and Martin were the trustees. Complainant…