Equitable Guarantee & Trust Co. v. Rogers

Citations

• 7 Del. Ch. 398

Syllabus

<p>Bights of life tenants and remaindermen in trust ©states,, to accumulations and income of the estate up to and after the period fixed for division of the estate; Construction of wills; General intent and particular intent appearing in the will; Definition of the word “ accumulations ” as used in a will.</p> <p>1. Whenever upon the face of a will, two intents are manifest, the one general and for a general period, and the other particular, for a particular period and a particular portion of the estate, the two are not held as conflicting, but the latter is to be taken as an exception to the former.</p> <p>2. A testator devised all his estate to trustees in trust to hold all the rest and residue of his estate (after reserving as much of the securities as they might deem necessary to raise a certain annuity for his widow) in trust to apply so much of the income thereof as they might deem proper to the support and education of his children during their minority, and in trust when bis first child should attain the age of twenty-one years, to divide his residuary estate into so many shares as there were children at the time of the division; and as the children arrive respectively at their majorities, to pay over to them respectively the income of their respective shares of his estate for the term of their natural lives, etc. In section 7 of the will, the following occurs: “ I hereby declare that my said executors ” (trustees) “ shall stand possessed of the accumulations of my residuary estate and the income thereof, upon and for the same trusts and subject to the same declarations hereinbefore made concerning the estate from which such accumulations shall have proceeded.”</p> <p>a. Heid, that the accumulations, enhancements and increase in certain .stocns forming a part of the estate from the death of the testator up to the majority of the eldest child, the period fixed by the will for the division, were to be treated as a part of the corpus or capital of the . estate