In re the Accounting of Gilchrist

On December 20, 1945, the grantor Helen Hooker O’Malley executed and delivered an inter vivos trust indenture to Thomas B. Gilchrist and The Fifth Avenue Bank of New York, as trustees (the petitioners herein), whereby she created an inter vivos trust for her own benefit during life with reservation, among others not here pertinent, of the right to request and have the trustees in their “ absolute and uncontrolled discretion ” to pay her at any time any part or all of the principal funds; of the right to modify or revoke the trust with the written consent of the trustees, and of the right to…