Steel v. Steel

Marvel, Vice Chancellor:

Plaintiffs, who are trustees named in the will of Isaac D. Short, seek instructions as to payment of equitable and trust income to life tenants and as to how they should apportion as between capital and income the proceeds derived from liquidation of the I. D. Short Company, stock in which was received by them as part of the residue of the Short estate. Defendants are the life tenants and remaindermen who benefit under various contingencies set forth in the trust, and pursuant to an order of interpleader the defendant Short, a life tenant, has filed an interpleading…