Irving Trust Co. v. Horn Burt

Lehman, Ch. J.

Henry R. Burt in 1935 executed a deed of trust transferring to himself as trustee specified personal property “ to have and to hold the said securities and property to the said trustee, its successors or assigns upon the * * * express trust and conditions and with the powers and limitations hereinafter conferred and set forth.” At the time the settlor executed the deed of trust he was married and had one child, Henry R. Burt, Jr., then about two weeks old. The “ express trust and conditions ” set forth in the deed of trust are designed to provide an income to the settlor’s wife…