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DARLINGTON ESTATE (04/23/69)

decided: April 23, 1969.

DARLINGTON ESTATE


Appeal from decree of Orphans' Court of Allegheny County, No. 4552 of 1963, in re deed of trust of Harry Darlington, Jr.

COUNSEL

G. Harold Blaxter, with him Stephen E. Nash, and Blaxter, O'Neill, Houston & Nash, for appellant.

Robert L. Kirkpatrick, with him Thomas W. Pomeroy, Jr., and Kirkpatrick, Pomeroy, Lockhart & Johnson, for appellee.

A. Evans Kephart, for amicus curiae.

Thomas N. Griggs, and Griggs, Moreland, Blair & Anderson, for amicus curiae.

Philip A. Bregy and Cuthbert H. Latta, under Rule 65.

Jones, Cohen, Eagen, O'Brien and Roberts, JJ. Opinion by Mr. Justice Roberts. Mr. Chief Justice Bell took no part in the consideration or decision of this case.

Author: Roberts

[ 434 Pa. Page 200]

In 1929, Harry Darlington created and funded a substantial inter vivos trust for the benefit of his wife, Ethel S. Darlington (now Ethel S. Garrett) for life. The instrument directs that the "entire net income" be paid to his wife and in addition provides "Stock dividends shall belong to the corpus of the trust and shall not be distributable as income." During the course of the administration of this trust, the trustee awarded to principal certain stock dividends he received. It is these decisions by the trustee to retain such dividends in principal, upheld in the Orphans' Court of Allegheny County by both the auditing judge and the court en banc, which is contested in this appeal taken by settlor's wife.

These stock dividends were received during three distinct periods, and for each one a separate discussion of the applicable law is necessary. First, there is the 100% stock dividend of Gulf Oil stock which was received in 1936, before any of the changes in the Act Against Accumulations (Act of 1853) were made. Second, there is the series of stock dividends of 6% or

[ 434 Pa. Page 201]

    less which was received between the effective date of the Principal and Income Act of 1947 (July 3, 1947) and that act's amendment which became effective September 30, 1963. Finally, a group of stock dividends of 6% or less were received after September 30, 1963. We will ...


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