Neville v. Carlet

Citations

• 26 Ohio C.C. Dec. 469
• 16 Ohio C.C. (n.s.) 544

Syllabus

<p>TRUSTS — WILLS.</p> <p>1. Bequest to Trustees for the Benefit of Three Persons in Certain Proportions Creates Only One Estate.</p> <p>Where testator gave the residue of his estate to trustees, to hold one-third part, with all the income therefrom, for the use of his widow for her life, one-third for the use of his son for life, and one-third for the use of his daughter for her life, and after the death of his wife the property given for her use, to be held for the use of his son and daughter in equal shares; Held: Not to create separate trust estates but that the whole trust estate should be kept as one entire fund and the income divided among the legatees.</p> <p>2. Annuitant Entitled to have Surplus Applied to Satisfaction of Prior Deficiencies in Annuity.</p> <p>Where the income from property upon which an annuity is charged, is for several years insufficient to pay the full amount of the annuity, but in later years leaves a surplus after the payment of the annuity, the annuitant is entitled to have such surplus applied to the satisfaction of deficiencies in the annuity for the years it was not paid in full.</p>