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Wills, Trusts & Estates Keyed to Gallanis
Estate of duPont
Citation:
379 A.2d 570 (Pa. 1977)Facts
Philip F. duPont died testate in 1928, leaving one-third of the residue of his estate to the Fidelity-Philadelphia Trust Company in trust for the benefit of his daughter, Mrs. Frances duPont Rust. In his will, Mr. duPont created in Mrs. Rust a special testamentary power of appointment over the one-third share of the residue. The will provides that Fidelity-Philadelphia is upon her death to transfer, assign, and pay over the principal of her share of (Mr. duPont’s) residuary estate unto such of her children and issue of deceased children, and in such proportions as she may by her Last Will and Testament. Mrs. Rust died in 1975. In her will, Mrs. Rust appointed a part of this share to appellants William Shore, Harry Devine, and Girard Trust Bank in trust for the benefit of her surviving daughter Carroll (Mr. duPont’s granddaughter) and then for the benefit of the issue of Carroll (Mr. duPont’s great grandchildren). Mrs. Rust gave appellants the discretion to make periodic payments from principal to Carroll’s issue.
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6m 20s