Bank of Delaware v. Bancroft

MARVEL, Vice Chancellor:

Bank of Delaware, co-trustee under the will of John Bancroft, seeks instructions on the question as to whether or not a successor trustee for John Bancroft, Jr., its deceased co-trustee, should be appointed.

The will of John Bancroft contained provisions for the creation of two trusts for which John Bancroft, Jr. and the Equitable Trust Company (now the Bank of Delaware) were named as co-trustees. The first trust provided for a life estate for each of the testator’s three children, John, Jr., Pauline, and Esther. Upon the death of the last child of John Bancroft, the…