National City Bank v. Baldwin

Andrews, Chief Eeferee.

On July 27,1959, Lillian Baldwin entered into a living trust agreement with The National City Bank of Cleveland. Under this agreement the grantor reserved the net income to herself, and authorized the trustee, upon the death of the grantor, to pay part of the principal to the executor of her will, for the purpose of satisfying debts, expenses, and taxes of the estate.

Item III, paragraph 2 of the trust agreement provides that after the above-mentioned payments to the executor,

* * * the Trustee shall distribute the then remaining trust property to THE INDIANA YEAELY…