Indian Head National Bank v. Rawls

Paragraph “A” of “Clause First” of the trust agreement directs the trustees to divide the principal of the trust fund into three equal shares, one for each of the children of the settlor, Carolyn, David and Stephen.

Under paragraphs “B”, “C” and “D” of this clause, “the Trustees shall accumulate the income of the share” of each child until he or she reaches the age of forty-five. On reaching that age each child is to receive the current income of his or her share until the age of sixty when distribution of all the principal and unpaid, accrued and accumulated income of this share is to be made…