Egbert v. de Solms

Citations

• 218 Pa. 207
• 67 A. 212
• 1907 Pa. LEXIS 483

Syllabus

<p>Trusts and trustees — Voluntary settlement — Spendthrift trust — Children —Remainder-men—Attachment execution. •</p> <p>A man and wife executed a deed of trust to a trustee to pay over the income to the wife for life, and after her decease to pay over the income to the husband for his life, not to be liable for his debts, and after his death to pay over the principal to the children of the settlors in such shares as the husband by his last will should appoint, and in default of appointment to the children in equal shares. The wife died before the husband. Held, (1) that the income payable to the husband was assets for the payment of his debts; (2) that except as to creditors existing at the time of the settlement,, or those in specific contemplation in the immediate future, the principal of the estate was free from attack by creditors.</p> <p>In the above case the trustee was garnisheed by creditors of the husband. It answered that the income which it had collected and was at present holding, had been assigned by instrument in writing to a creditor other than the attachment creditor before the service of the attachment, but that the defendant cestui que trust had revoked the assignment. Held, that there was no admission of assets in the trustee’s hands liable to attachment.</p>