Allen's Ex'r v. Howard

Opinion of the Court by

Judge Sims

Reversing.

On December 19, 1924, William B. Allen executed three trust agreements to tbe Fidelity & Columbia Trust Company as trustee for his three daughters hy which he directed that the income from the corpus of the property impressed with the trusts was to accumulate until his daughters reached 25 years of age, after which time they would receive the income for life and each was given the power of appointment at her death. In the event the power was not exercised, the trust agreements provided that each daughter’s share should pass to her issue, and if none,…