In re the Estate of Carney

Millard L. Midoxick, S.

The will of this testatrix directs that designated shares of corporate stock “be held in trust”, that during the lifetime of a sister of the testatrix such sister “ receive the income ”, and that upon her death the principal of the stocks revert to the residuary estate. The will nominates the executor, who is not the beneficiary, as “trustee of said trust.” By reason of the fact that the same sister is the residuary legatee under the will it is suggested that a merger of interests has resulted and the trust has been destroyed.

The essential elements of a valid trust of…