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HUESTED ESTATE. (03/23/61)

March 23, 1961

HUESTED ESTATE.


Appeals, Nos. 212 and 213, March T., 1960, from decree of Orphans' Court of Allegheny County, No. 296 of 1959, in re estate of Nevin N. Huested, deceased. Decree affirmed.

COUNSEL

Richard F. Geiselhart, for executor.

Thomas D. Thomson, with him John David Rhodes, and Pringle, Bredin & Martin, for widow.

Emily H. Wilson and W. Bruce McCrory, for trustee.

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

Author: Bell

[ 403 Pa. Page 186]

OPINION BY MR. JUSTICE BELL.

Were settlor's amendments made after 1948 to his inter vivos trust indenture created in 1940 voidable as to his widow?

On January 15, 1940, Nevin N. Huested and the Fidelity Trust Company executed a trust indenture which reserved to the settlor the right to amend and to revoke the trust in whole or in part. The assets of the trust consisted of stocks and bonds which had a market value at his death of approximately $450,000. Under the terms of this (original) indenture the trustee was to pay the income from the trust to Mr. Huested during his lifetime. Upon his death the trustee was to hold $35,000 of the assets for his widow, Louise S. Huested, and to pay her $100 a month for her life from the principal and income. The remainder

[ 403 Pa. Page 187]

    of the income from this fund was to be paid to the settlor's son, Nevin N. Huested, Jr.,*fn1 for his life. In the event his son died before the settlor's widow, the entire income from this fund was to be paid to her. Upon the widow's death the principal of the fund then remaining, less two small contingent legacies,*fn2 was to be paid to his son, or in the event he predeceased the widow, then as he appointed by will, or if he failed to appoint, then it was to pass in accordance with the intestate laws of Pennsylvania. The settlor reserved the power during his lifetime and also by will to add additional amounts to the trust as well as the power to direct the trustee in the investment of the assets. Contrary to the contentions of the widow these two powers are not equivalent to a power to control the trust and make it a mere agency account where as here the trust was an active one, i.e., the trustee had active duties to perform.

Thereafter the dispositive provisions of the trust indenture were amended on five separate occasions, August 22, 1940, October 9, 1944, September 4, 1946, August 24, 1951, and August 16, 1956. On each occasion the settlor, although he did not expressly revoke the dispositive provisions of the original trust indenture or its supplements, entirely rewrote all the ...


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