Patterson v. Caldwell

Citations

• 124 Pa. 455
• 17 A. 18
• 1889 Pa. LEXIS 1050

Syllabus

<p>1. Whilst equity will uphold assignments of contingent interests and expectancies, if fairly made and not against public policy, yet only that which has a present and certain existence, although its possession 'aud enjoyment may be postponed for a time, may be seised by an execution attachment.</p> <p>(a) The will of a testator created spendthrift trusts as to the income of his residuary estate in favor of his children and grandchildren, and provided that “ either at the death of the last survivor of my now-living children or grandchildren who may be living at the time of my death, or at the expiration of twenty-one years from my own death, whichever event shall first happen,” the principal of his estate should vest absolutely for distribution to those entitled to the income.</p> <p>2. Ill such case, until one or the other of the events contemplated in the provision quoted shall occur, it cannot be determined who will be the recipients of the income at the time of distribution of the estate, and the interest of a child in the principal of it is therefore contingent and not subject to seizure on an execution attachment: Reed’s App., 118 Pa. 215, distinguished.</p>