Pfeifle v. Schneider

The Fred J. Pfeifle trust created 11 separate trust funds with The Firestone Bank of Akron named and acting as trustee. Ten of them are in issue. Those ten were to continue until the later of two events: (a) the date of the donor’s death; or (b) until the promissory notes comprising the trust estate should no longer be an asset thereof. As to nine of the trust funds, the net income from the trust property *199was to be accumulated by the trustee until the donor’s death and thereafter distributed to the beneficiaries, who were the children and grandchildren of the donor.

It was also provided that…