Warren v. Cropsey

In May, 1960 Charles A. Simmons, Sr., purported to create an inter vivos trust, the corpus of which was 1,300 shares of voting preferred stock of the Simmons Machine Tool Corporation. Under the terms of the trust indenture Charles A. Simmons, Sr., was the sole settlor, the sole trustee and, during his lifetime, the sole income beneficiary. The indenture provided that after the settlor’s death the income should be paid to his issue in equal shares per stirpes and that upon the death of the survivor of his then living three children the ‘ ‘ Trustee shall distribute the then entire principal…