Fidelity & Columbia Trust Co. v. Gwynn

Opinion op the Court by

Commissioner Sandidge

Affirming.

On November 14, 1921, appellee, Joseph K. Gwynn, delivered to appellant, Fidelity and Columbia Trust *824Company, as trustee, $24,000.00 in cash to he held by it under the terms of a trust agreement, which empowered the trustee to manage and invest the money, and required it to pay him the net income therefrom in monthly installments during his life. The trust agreement contained this further provision:

“Upon the death of the party of the first part, this trust shall cease and the estate shall pass in accordance with the last will of the party…