Wood's Estate

Citations

• 261 Pa. 480
• 104 A. 673
• 1918 Pa. LEXIS 771

Syllabus

<p>Trusts — Dry trusts — Active trusts — Beneficiaries, sui juris — Termination.</p> <p>1. Where an instrument creating a trust for persons sui juris creates no limitation over of either the income or the principal of the estate and there are no other estates in interest to be preserved and no ultimate purpose of any kind requiring the continuance of the trust is expressed or can be implied from its terms except the mere payment of the income to the cestui que trust, a termination of the trust may be decreed.</p> <p>2. A testator bequeathed to trustees certain personal property and the proceeds of certain real estate to be held in trust by them for the use of his two daughters, “the proceeds to be equally divided between them......and desire said trustees to pay them equally the net proceeds, of the above-named property derived from dividends, rents and interest after payment of taxes and current repairs. And in any case a majority of the said trustees deem it for the interest and safety of the property so bequeathed to (the daughters, naming them) with their consent, to sell any of the mentioned trust property and invest it in the bonds of the United States. I understand that in this devise that the said (daughters, naming them) shall have power to dispose of equal portion's of this estate so held for them in trust by will.”</p> <p>One of the daughters died and the other, who was sui juris, applied for a termination of the,- trust. Held, the court properly declared the trust terminated and awarded one-half of the estate to the petitioner and the other half to the personal representatives of the deceased cestui que trust.</p>