Estate of Lockhart

GRAY, J.,

pro tem.

—The decree of distribution of the estate of Thomas G. Lockhart, deceased, dated September 29, 1915, distributed

“in pursuance of and according to the provisions of the last will of said decedent”

to Security Trust & Savings Bank the residue of the estate upon the following trusts: “The net annual income received or derived from said trust estate shall go and be paid as follows, to-wit: (a) The sum of one thousand ($1000) dollars per annum, in equal semi-annual installments, shall go and be paid by said trustee to George J. Lockhart, a son of the testator, to and until he shall attain the age of fifty (50) years, if he shall live so long and if Minnie A. Lockhart does not sooner die. If, in the event and at the time that said George J. Lockhart shall attain the age of fifty years, and if the said Minnie A. Lockhart shall then be living, a full one-sixth of the principal of the trust estate, in whatever form, properties or invest

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ments it may at that time be, shall go, vest in and be transferred absolutely, to said George J. Lockhart. ’ ’ (Italics ours.) Identical provisions were repeated in the following paragraphs as to a son, Harry C. Lockhart, and a daughter, Myra B. Rockwell, except that as to the latter the age at which the income would cease and the one-sixth interest would vest was fixed at 40 years. The decree further provided that “all the remainder of said net income shall go and be paid by said trustee in equal semi-annual installments to Minnie A. Lockhart, widow of said testator ’ It lastly ordered that upon the widow’s death the trust should cease and the entire property then in trust should go in fee, equally, to the three children. No appeal was taken from the decree and it has long since become final.

Minnie A. Lockhart died on January 14, 1936. On May 1, 1928, the daughter, having attained the age of 40 years, had received one-sixth of the trust estate. On May 4, 1935, George J. Lockhart, having reached the age of 50 years, had received one-fifth of the remainder, which was the equivalent to one-sixth of its original amount. But Harry C. Lock-hart, not having become 50 years old before his mother’s death, had never received one-sixth of the estate. His interest at such death was vested, by mesne assignments, equally in Joe Crail and Mildred Canavan, whose share was subject to a lien in favor of William Ellis Lady. The trustee had paid all income due to the children either to them or their assigns. It had also paid the widow during her life the semi-annual installments. Upon the trust’s termination b;r the widow’s death the trustee filed its final account and petition for instructions as to the distribution of the property remaining in its hands. In answer thereto various interested parties set forth their respective claims. John C. Miles, as administrator of the widow’s estate, claimed certain income which had accrued but had not been paid to his decedent during her life. The assignees of Harry C. Lockhart contended that they were entitled, first, to one-fourth of the remaining estate (the equivalent of one-sixth of its original amount) and, secondly, to one-third of the residue after deducting such one-fourth. In effect, they asserted that under his father’s will their assignor was entitled to one-third of the entire trust estate. George J. Lockhart, and Myra B. Rockwell claimed that as the widow’s right to income ceased