Stephens v. Dayton

Citations

• 220 Pa. 522
• 70 A. 127
• 1908 Pa. LEXIS 808

Syllabus

<p>Wills — Trusts and trustees — Perpetuities.</p> <p>Testator devised and bequeathed all of his property to his executor, in trust for the purposes named in his will, and then over. He further directed as follows:</p> <p>“ (h) The residue of the rents, issues and profits of my said estate, after paying all charges thereon, shall be equally divided, semi-annually, between my son Ira A., and daughter, Susan, or should either die, between the survivor and the heirs and the next of kin of the deceased, said heirs and kin taking what the deceased, if living, would have taken; or, if this trust should continue after the death of both my said son and daughter, the said residue of the rents, issues and jDrofits of my estate shall be divided, one-half to the heirs and next of kin of said deceased son, and one-half to the heirs and next of kin of said deceased daughter.</p> <p>“ (k) The trust hereby created shall cease immediately upon the sale by the trustees of my shares of the capital stock of the J. E. Dayton Company, Williamsport, Pa., or upon the said trustees dividing the said capital stock between my said two (2) children or upon the death of the survivor of my son or daughter, should he or she die before the other, and the said trustee shall immediately, upon this its termination in any one of the ways aforesaid, convey all the estate then in their hands to my son and daughter in equal shares; or, if my son or daughter or both be then dead, the half which otherwise would be conveyed to him or her, shall be conveyed to the heirs of said son or daughter, or, if the property be personalty, to such persons as, under the intestate laws, would be thereto entitled had such son or daughter died owner of it.</p> <p>“(1) Notwithstanding the provision in the preceding paragraph as to the termination of the trust hereby created, if in the unanimous judgment of my said trustees, it would be unwise for any reason at the time and under the conditions mentioned therein to so divide