Rhodes' Estate

Citations

• 147 Pa. 227
• 23 A. 553
• 1892 Pa. LEXIS 818

Syllabus

<p>Perpetuities — Vested annuities — Postponement of possession.</p> <p>, A testator after giving a life estate in trust for his daughter, gave in a codicil the residuary estate to his nephews and nieces living at the daughter’s death. By a later codicil he provided that “incase” of the death of the daughter “leaving a child or children surviving her under the age of twenty-five years, the trustees shall pay to each child or children the sum of $350 a year, each, until they respectively arrive at the age of twenty-four years,” and the “ estate shall remain in the hands of the trustees without division, until after all said children arrive at said age.” Held, that the annuities to the daughter’s children vested immediately upon the daughter’s death, and that they did not violate the rule against perpetuities.</p> <p>The later codicil did not defeat the gift of the residuary estate to the nephews and nieces, but merely postponed the right of possession until ihe annuities to the daughter’s children were paid.</p> <p>Accumulations — Payment of liens.</p> <p>Not decided, whether a direction to apply surplus income to the payment of liens on real estate, involves a capitalization within the prohibition of the statute against accumulations.</p>