Security Trust & Safe Deposit Co. v. Martin

Citations

• 10 Del. Ch. 330
• 92 A. 245
• 1914 Del. Ch. LEXIS 22

Syllabus

<p>Under a will giving property to trustee to pay the income to the testator’s grandson for life, and to expend any portion of the principal for his maintenance and education during his minority as the trustee might in his judgment deem best, with no restraint on the alienation by the beneficiary of his right to the income, nor direction to pay the income only to him, nor authorization to the trustee to withhold any part of the income, nor any circumstance showing that the trust was a spendthrift trust, the beneficiary, after attaining his majority, could assign his right to the income, and, having assigned it as security for the repayment of money borrowed by him, the trustee should pay the income to the assignee, especially where no unfairness was suggested, and the beneficiary was asking that the income be paid to the assignee.</p>