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Keywords

trustwill
trust

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Matter of Marine Midland Bank, N.A., 127 A.D.2d 973, 513 N.Y.S.2d 311

Facts

Lillian G. Lockwood died in 1975, survived by three children, Jean, Betty, and George, and ten grandchildren. After specific bequests, her will divided the residue of her estate into three parts, with the remainder intended for her daughters, Jean and Betty, upon the death of her son George. Both Jean and Betty predeceased George, leading to a dispute over the distribution of the trust remainder, which the Surrogate interpreted as lapsing due to their deaths.

Lillian G. Lockwood died in 1975 survived by three children, Jean, Betty and George, and ten grandchildren.

Issue

Did the remainder interests in the trust lapse due to the deaths of the remaindermen before the life tenant, or did they vest at the testatrix's death?

Did the remainder interests in the trust lapse due to the deaths of the remaindermen before the life tenant, or did they vest at the testatrix's death?

Rule

Remainder interests generally vest at the death of the testator unless there is an express condition of defeasance or substitutionary bequest. The intent of the testator as expressed in the will is paramount in construction proceedings.

Remainder interests generally vest at the death of the testator unless there is an express condition of defeasance or substitutionary bequest.

Analysis

The court determined that the remainder interests vested at the testatrix's death, supported by the principle favoring early vesting of future interests. The will did not contain an express condition that would cause the bequests to lapse upon the deaths of Jean and Betty, and the limited survivorship condition only applied to the first remainderman to die. Therefore, the court concluded that the remainder should be divided equally between the estates of Jean and Betty.

The court determined that the remainder interests vested at the testatrix's death, supported by the principle favoring early vesting of future interests.

Conclusion

The court modified the Surrogate's decree to order the distribution of the remainder equally between the estates of Jean and Betty, affirming the decision as modified.

The court modified the Surrogate's decree to order the distribution of the remainder equally between the estates of Jean and Betty, affirming the decision as modified.

Who won?

The estates of Jean Lockwood Landrigan and Betty Lockwood Olmstead prevailed because the court found that their remainder interests vested at the testatrix's death and were not subject to lapse due to their predeceasing the life tenant.

The estates of Jean Lockwood Landrigan and Betty Lockwood Olmstead prevailed because the court found that their remainder interests vested at the testatrix's death.

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