First Agricultural Bank v. Coxe

The plaintiff trustee has filed a complaint seeking a determination under the will of Charles D. Make-peace concerning the manner in which it may hold assets initially placed in a testamentary marital deduction trust. These assets have passed, by default of appointment, to a testamentary trust for Makepeace’s issue and, on the trust’s termination, to Williams College. The trustee has sought instructions because of the possible application of Federal generation-skipping transfer (GST) taxes to certain future trust distributions if the assets of the marital deduction trust are added to the…