Hughes v. Federal Trust Co.

The three life tenants of the residuary trust created by the will of their mother, Mrs. Eliza Smith, pray that the trustee be directed to make advancements out of corpus. The residuary clause of the will reads as follows:

"All the rest, residue and remainder of my estate, of every character and description, I give, devise and bequeath to my executors hereinafter named, in trust, however, to invest the same and keep the same invested and to pay the net income arising therefrom, as follows:

"One-third (1-3) thereof to my daughter, Margaret Marion Hughes, during her lifetime;

"One-third (1-3)…