Central Union Trust Co. v. Trimble

Edward R. Thomas made a deed of trust in January, 1922, in which he recited that he had previously agreed to establish a trust fund for the benefit of Robert Livingston Beeckman, and in which he established such a fund as follows: He transferred to a trustee securities of the par value of $647,000, yielding at that time an annual income of $50,000, with directions to pay the income to Beeckman quarterly during life. “ If said annual income shall exceed said sum of $50,000, the excess shall be paid to the settlor.” Upon the death of Beeckman the whole income was to be paid to the' settlor…