Murstein v. Central National Bank of Cleveland

Central National Bank, defendant-appellant, challenges the probate court’s ruling that the last will and testament of Martha B. Jacobs, deceased, constituted a valid and effective exercise of her testamentary power of appointment flowing from the trust created by her husband.

The Mortimer Jacobs Trust was established pursuant to a trust agreement dated October 1, 1974 by and between Central National Bank of Cleveland (“Central”), defendant-appellant, as trustee and Mortimer Jacobs as settlor. Article III of the trust provided that “* * * commencing as of the date of my death, the trustee shall…