Hardy v. Bankers Trust Co. of N.Y.

In the month of December, 1929, complainant set up a life insurance trust in which she named the defendant, Bankers Trust Company of New York, trustee (Exhibit C-1). At the time of the creation of the trust the complainant was a resident of Englewood, New Jersey. She is now a resident of Manchester, Vermont. Under the trust agreement complainant assigned and transferred $800,000 of life insurance policies upon the life of her husband, and securities of the market value of about $148,000. In the year 1934, the insurance policies were reduced to $430,000. On or about October 16th, 1945, at the…