[Download] "Zeta R. Erickson v. Herbert Erickson and" by Supreme Court of Minnesota * eBook PDF Kindle ePub Free
eBook details
- Title: Zeta R. Erickson v. Herbert Erickson and
- Author : Supreme Court of Minnesota
- Release Date : January 27, 1936
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
Trust -- creation of spendthrift trust. 1. A decree of the probate court in furtherance of the provisions of the will of John Erickson created a trust in the residue
of the testator's estate, the income from which was to be distributed to the widow and eight children or to the grandchildren
by right of representation. The principal was to be distributed to the beneficiaries in five-year installments. It provided
that no title either in principal or income should vest in the beneficiaries until actual distribution to them and that such
beneficiaries should have no power to assign, transfer, anticipate, or dispose of their interests therein prior to such distribution.
Held, this created a valid spendthrift trust, both as to corpus and income of the trust estate, which protected the same during
transmission to and until actually received by the beneficiaries.