The suit did not challenge, nor does it now question, the proper administration of the trust by the appellant. It prayed for the trust to terminate and for the corpus, now in excess of $420,000, to vest in the complainant. The evidence discloses that Marianne is now unable to bear children and that she was sixty years of age when this suit was filed. This was the first and only marriage of the parties and no children have been born to or have been adopted by them. Longshore when she was twenty-six years of age. Meanwhile, in 1939, Marianne married Frank S. Hughes died testate in 1970, leaving her property to Marianne, her daughter. Hughes died in 1936, his property, since he left no will, descending to his wife, Hattie L. Marianne was twenty-three years of age and unmarried at the time the will was probated. (d) Should Marianne die before or after the testatrix, leaving a child or children or descendants thereof, the trustee was to continue to hold and administer the estate (details omitted) until the youngest reached the age of twenty-one, at which time the corpus of the trust was to be delivered to such child or children or their descendants. Hughes, then the corpus of the estate was to vest in C.L. (c) Should Marianne die after the testatrix without issue or descendants of issue, and be predeceased by her mother, Mrs. (b) Should Marianne die after the testatrix without issue or descendants of issue, the corpus of the trust was to vest in Mrs. Hughes if she was living at the death of the testatrix. (a) Should Marianne die before the testatrix leaving no child or children or descendants thereof, then the trust estate was *289 to vest in Mrs. It provided that the trust was to terminate: The will directed the trustee to pay Marianne $250 each month from the trust for a period of five years and thereafter $300 per month for life. Since the primary issue before the Court is whether the trust was properly terminated, the provisions of the will and after events have importance. The will directed that this trust be administered by the Citizens National Bank of Meridian. The remainder of the testatrix's property was placed in a trust for the benefit of Marianne. It devised, among other things, the family home and one-half of the remaining estate to Mrs. Longshore, hereinafter Marianne, executed her will in February 1935. Longshore, appellee, was adjudged to be entitled to the immediate possession of the trust property and the appellant/trustee was directed to make its final account and to deliver the property to her. The Citizens National Bank of Meridian appeals from a final decree of the Chancery Court of Lauderdale County wherein a testamentary trust created by the will of Mrs. Riddell & Dabbs, Quitman, for complainant-appellee. Hall, Jr., Meridian, for defendant-appellant. *288 Wilbourn, Williams & Glover, Maurice H. The CITIZENS NATIONAL BANK OF MERIDIAN, a corporation, Trustee of Marianne H.
0 Comments
Leave a Reply. |