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eBook details

• Title: James M. Nelson (Also Known As James M.
• Author : Supreme Court of Missouri
• Release Date : January 11, 1960
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 68 KB

Description

On July 11, 1924, L. C. Nelson executed a trust instrument by which he created a trust estate having assets of approximately $600,000. He made provision therein for himself, his son and his grandchildren, with ultimate remainders to be distributed to surviving descendants of his grandchildren. A large portion of the trust corpus has heretofore been distributed to beneficiaries, but three trusts (having an original value of $50,000 each) remain in the hands of the trustees. The three grandsons of L. C. Nelson are each entitled to receive the income from one of those trusts. This suit was instituted by James M. Nelson, one of said grandsons, for the purpose of obtaining an adjudication that the three aforementioned trusts were void because the inter vivos trust instrument creating the same contained provisions that were in violation of the rule against perpetuities. In addition to the trustees and the other two grandchildren, the numerous defendants seem to include all living persons who might have an interest in the controversy. A trial resulted in a decree for plaintiff and a distribution of the trust assets was ordered in accordance with the residuary clause of the will of L. C. Nelson. The decree also provided that plaintiff and all answering defendants were entitled to allowances for attorney fees to be paid out of said trust funds. The defendants (except plaintiff's wife, who defaulted) have appealed and here contend that the trust instrument did not violate the rule against perpetuities and (except Henry G. Nelson) further contend that plaintiff is not entitled to an allowance for attorney fees. Plaintiff has also appealed and, as appellant, contends that none of the defendants were entitled to allowances for attorney fees except the guardian ad litem for plaintiff's minor son, Henry G. Nelson, also known as Valle Reyburn Nelson. The trust indenture provided as follows:

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