Newton-Waltham Bank & Trust Co. v. Miller

On April 14, 1927, Arthur J. Conner, hereinafter called the settlor, executed an indenture of trust with the petitioner wherein the petitioner agreed to hold certain property received by it on the following terms: “1. To manage, [and] invest . . . the same and to pay the net income thereof to said Arthur J. Conner . . . during his life .... 2. On the death of said Arthur J. Conner, the trustee shall pay the net income to his son, Frank Norris Conner, until he shall attain the age of forty years . . .; and upon his attaining the said age after the decease of said Arthur J. Conner, the trustee…