Bankers Trust Co. v. Topping

In this action, wherein plaintiff trustee seeks a decree authorizing it to render its account of proceedings, the validity of the trust is questioned as violative of the rule against perpetuities (Personal Property Daw, § 11).

*598Originally the settlor created a trust on February 4, 1919, which provided that the income be paid to his daughter until his two grandsons, then living, respectively reached thirty years of age when each was to receive one half the principal, and the trust was in that manner to terminate. That indenture further provided that the donor might “ modify or alter in any…