Globensky v. St. Joseph-Benton Harbor Memorial Hospital

The will of Luman H. Gray established two trusts. The deceased’s widow is the current income beneficiary of both. The corpus of trust “A” is to be paid into trust “B” if the widow *333fails to exercise her power of appointment. The contestant-appellee herein is the St. Joseph-Benton Harbor Memorial Hospital, the remainderman of trust “B”. The will empowered the trustees to mortgage property and repair and remodel buildings, since the principal asset of the estate was a building, and to allocate receipts and expenditures between income and principal accounts. The petitioner-appellant is the…