Security-First National Bank v. Reynolds

Plaintiff sued the life tenants and remaindermen of a trust estate because of conflicting demands made with reference to certain income of the estate. It asked (1) for instructions to the trustee and (2) for a construction of the declaration of trust and of the trustee’s authority.

The trustor was Harriet L. Rice. She had formerly placed her estate in trust with plaintiff from which she was to receive in her lifetime “the net income received from the trust estate and available for distribution.” That trust terminated in January, 1931. Under date of February 18, 1931, the present trust was…