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Keywords

trustwillvisa

Related Cases

Boyden v. Stevens, 285 Mass. 176, 188 N.E. 741

Facts

Walter H. Edgerly died in 1906, leaving a will that established a trust for the benefit of his wife, Nathalie A. Edgerly (now Stevens), and any children he might have. The will specified that the trustee could pay income to his wife during her life and had discretion to pay principal for her benefit. After the death of the original trustee, Albert Boyden was appointed as the successor trustee and sought instructions on various matters related to the trust, including whether he could pay the entire principal to Nathalie A. Stevens.

Issue

The main legal issues were whether the successor trustee could exercise discretion to pay principal to Nathalie A. Stevens, how the trust property should be distributed upon her death, and whether the entire beneficial interest in the principal of the trust is vested in her.

Rule

The court ruled that the trustee has the discretionary power to pay over principal to Nathalie A. Stevens as deemed advisable, and that such power is not conditional upon the existence of specific facts. The trustee must exercise this power with sound judgment and in accordance with the trust's responsibilities.

Analysis

The court found that the trustee's discretionary power was broad and not limited by specific conditions. It emphasized that the trustee could pay the entire trust fund to Nathalie A. Stevens if he deemed it advisable, but the trust must continue during her life unless the trustee decides otherwise. The court also noted that the questions regarding the vesting of the remainder interest were not appropriate for instruction at this time.

Conclusion

The court reversed the final decree and instructed the trustee to exercise his discretion regarding payments to Nathalie A. Stevens, affirming that he could pay the entire principal if deemed advisable.

Who won?

Albert Boyden, as the trustee, prevailed in the case because the court affirmed his discretionary power to make payments to Nathalie A. Stevens.

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Keywords

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