Cotham v. First National Bank of Hot Springs

Robert H. Dudley, Justice.

Calvin T. Cotham created a testamentary trust. After his death his son, Calvin E. Cotham, and one of his granddaughters, Anna Cotham, filed suit against the trustee and the other granddaughter and grandson alleging that the trust violated the rule against perpetuities. The trust provides a lifetime income of $300.00 per month for the son, and at his death, $ 100.00 per month to each of three named grandchildren. At the death of the first grandchild, the trust provides that the deceased grandchild’s share is to be divided equally among the surviving sisters or sister…