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WANAMAKER ESTATE. (03/16/60)

March 16, 1960

WANAMAKER ESTATE.


Appeal, No. 39, Jan. T., 1960, from decree of Orphans' Court of Montgomery County, May 18, 1959, Orphans' Court No. 38,456, in re estate of Rodman Wanamaker, deceased. Decree reversed.

COUNSEL

John G. Williams, with him John E. Walsh, Henry S. Drinker, and Drinker, Biddle & Reath, for appellant.

H. Ober Hess, with him Bruce L. Castor, William S. Rawls, and Ballard, Spahr, Andrews & Ingersoll, for appellee.

Before Jones, C.j., Bell, Musmanno, Jones, Cohen, Bok and Eagen, JJ.

Author: Bell

[ 399 Pa. Page 275]

OPINION BY MR. JUSTICE BELL.

Rodman Wanamaker died on March 9, 1928, leaving a will dated October 6, 1923, and three codicils.*fn1 Mr. Wanamaker was survived by 3 children and 5 grandchildren, all of whom were living at the time his will was executed:

Children Grandchildren

John Wanamaker, Jr. (John R. Wanamaker

(Fernanda Leas

Marie Louise Kent (Gurnee Munn, Jr.

(Fernanda Munn Kellogg

Fernanda W. Munn (Rodman A. Heeren

[ 399 Pa. Page 276]

All of Mr. Wanamaker's children are now deceased, but all of his 5 grandchildren are still living and no additional grandchildren were born.*fn2 Testator's will established three trusts (1) an Insurance Trust of over $4,000,000 in the Second paragraph of his will; (2) a very large Stock Trust in the Third paragraph of his will; and (3) a Residuary Trust in the Twenty-second paragraph of his will. This appeal involves solely the proper distribution of the principal of the Insurance Trust.

The relevant provisions of the Second paragraph of Mr. Wanamaker's will are:

"SECOND.... I hereby order and direct that all principal sum of insurance moneys, with any dividends, or income due thereon, shall be paid over to Fidelity Trust Company, Philadelphia, In Trust, to be held as follows:

"In trust to hold the same for the benefit of my three (3) children, in equal shares, for and during their natural life, and their heirs, until the youngest shall attain the age of twenty-one (21) years, in accordance with the following terms and conditions.

"To... pay the annual income,*fn3 derived therefrom, in equal quarterly payments to each of my said children, [upon a spendthrift trust].... In the event of the death of any one, or all, of my said children, leaving issue, then such issue to receive the share his, her or their parent would have received had he, she or they then been living. In further Trust to hold said principal sum for the child or children of my deceased child or children until the youngest child, of any of my child, or children, shall ...


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