Equitable Guarantee & Trust Co. v. McCurdy

Citations

• 11 Del. Ch. 156
• 98 A. 220
• 1916 Del. Ch. LEXIS 29

Syllabus

<p>Where there is a bequest of part of the residue of the testator’s estate in trust to invest the same and pay the income to one for life and the trustee receives from the executor in payment of the .legacy investment securities held by the testator at the time of his death, and also income which accrued since the death of the testator on these specific securities, the beneficiary for life is entitled to such income.</p> <p>It seems that the relationship of donor to the beneficiary is immaterial, and that the same rule applies whether the donor be or be not in loco parentis the beneficiary. ' '</p>