Kelly v. Girard Trust Company

Opinion by

Me. Justice Schaffer,

George Kelly, in his lifetime, was the owner and operator of a large installment business. He died in 1915 and by his will created a trust of the business and named plaintiff, Richard S. Kelly, his son, one of the trustees of it. He was given a one-fifth share of the principal and income of the trust. Subsequently by decree of the Orphans’ Court, plaintiff was removed as trustee and thereafter on March 5, 1920, he assigned to Harry T. Stoddart, as trustee, his one-fifth interest in the trust estate for the benefit of himself and bondholders holding bonds against…