RELIANCE TRUST CO. v. Candler

Miller, Judge.

Reliance Trust Company (“Reliance”) was a co-trustee, along with Charles Howard (“Buddy”) Candler III, of a revocable marital trust created by Buddy’s late wife. Pursuant to the provisions of the marital trust, Buddy was to receive the income generated by the trust; under certain circumstances, and in the discretion of the trustee, Buddy was also entitled to receive distributions from the corpus of the trust. Before his death, Buddy exercised his limited power of appointment pursuant to the trust and appointed any remaining corpus to his eight grandchildren, who are the…