Wachovia Bank & Trust Co. v. Lambeth

The question involved: Where a testator devises his estate in trust for the net income thereof to be paid to certain named beneficiaries for life, such income payments to be continued to be paid to the bodily heirs of said named beneficiaries during their lives, and thereafter ultimately for the corpus of the estate to be distributed in accordance with the laws of the State of North Carolina, should the inheritance taxes presently due the State of North Carolina, be paid out of the corpus of the estate, without any adjustment as between the named beneficiaries entitled to receive said income…