Equitable Guarantee & Trust Co. v. McCurdy
Court of Chancery of Delaware
Bill for Instructions to Trustee. Sallie A. Pennypacker died November 29, 1914, and by her wifi, probated January 13, 1915, after making sundry gifts directed that the residue of her estate be divided into three parts, gave one part to each of two sons, and gave the remaining third part to The Equitable Guarantee and Trust Company in trust, as follows: “* * * That it shall put and place the money and other personalty that may be included in said third part, out at interest,…
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Bill for Instructions to Trustee. Sallie A. Pennypacker died November 29, 1914, and by her wifi, probated January 13, 1915, after making sundry gifts directed that the residue of her estate be divided into three parts, gave one part to each of two sons, and gave the remaining third part to The Equitable Guarantee and Trust Company in trust, as follows: “* * * That it shall put and place the money and other personalty that may be included in said third part, out at interest, or invest the same in some good and sufficient security and pay and apply the interest, dividends, and proceeds arising…
1Opinion of the Court
The Chancellor.
The question in this case, though it has not" been heretofore decided in Delaware in any reported case, is quite a narrow one. There was a bequest of one-third of the residue of the testatrix’s estate in trust to invest the same and pay the income to a person for life, and the trustee having received not only certain investment securities held by the testatrix, but also the income which accrued thereon from the death of the testatrix, the question is whether .the beneficiary for life is entitled to that accrued interest on those securities. There is in the will no indication of…
2Cases cited4 opinions
- Cushing v. BurrellMassachusetts Supreme Judicial Court · 1884
- Eichelberger's EstateSupreme Court of Pennsylvania · 1895
- Baker v. FooksCourt of Chancery of Delaware · 1896
- Lovering v. MinotMassachusetts Supreme Judicial Court · 1851
3Cited by7 opinions
- In Re Trust Under Will of KoffendSupreme Court of Minnesota · 1944
- Kinney v. UglowOregon Supreme Court · 1939
- Equitable Trust Co. v. KentCourt of Chancery of Delaware · 1917
- Security Trust Co. v. BulcroftCourt of Chancery of Delaware · 1936
- Campbell v. CavettSupreme Court of Oklahoma · 1945
2 more not listed; retrieve them via the Exa API.