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Wills, Trusts & Estates Keyed to Sterk
Harris Trust and Savings Bank v. Beach
Citation:
513 N.E.2d 833 (1987)Facts
Rank P. Hixon and Alice Green executed an antenuptial agreement in March 1921, which created two trusts for Alice’s benefit. The first trust, created in 1921, consisted of 200 shares of Pioneer Investment Company stock and provided Alice with income for life, allowing her to dispose of $50,000 from the trust, while surrendering any potential claims to Hixon’s estate. The second trust, established in 1926, consisted of 300 shares of the same stock and similarly provided Alice with income for life, with the trust terminating upon her death and the principal being divided equally among Hixon’s heirs. Hixon’s will, executed in 1930, divided his estate among his daughters, Ellen Glore and Dorothy Clark, and in trust for Alice. Hixon passed away in 1931, leaving Alice, his daughters, and his grandchildren as his surviving heirs. Alice lived for 51 more years, with both trusts continuing to benefit her until her death in February 1982. At that time, the living descendants of Hixon included his grandchildren, Frances Glore Beach and Robert Hixon Glore, as well as his great-grandchildren, Charles F. Glore III, Sallie Glore Farlow, and Edward R. Glore.
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