Wilmington Trust Co. v. Coyne

MARVEL, Chancellor:

In 1919 William Coyne established an inter vivos trust, naming Wilmington Trust Company as trustee, in which indenture, after giving directions for the payment of income derived from said trust to his wife until his son, Philip Patrick Coyne, should reach his twenty-first birthday, directed the payment of the income thereafter arising from said trust, after the payment of a fixed commission to the named trustee, to his son, Philip, during his lifetime. Care was taken in the drafting of the indenture in issue to provide for the disposal of the income derived from the trust…