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Wills, Trusts & Estates Keyed to Sterk
Shenandoah Valley National Bank of Winchester v. Taylor
Citation:
63 S.E.2d 786 (1951)Facts
Charles B. Henry, a resident of Winchester, Virginia, died in 1949, leaving a will that established a charitable trust for the education of children in the first, second, and third grades at the John Kerr School. The will instructed the trustee to divide the trust’s income into equal parts and distribute it to the children in these grades for educational purposes. The trustee was given the authority to manage the trust’s investments, and the payments would continue as long as the school existed. If the school were discontinued, the trust would support children at the new school(s) designated by the local School Board. Henry had no close relatives, and distant relatives filed a lawsuit, challenging the validity of the trust on the grounds that it violated the rule against perpetuities, seeking to have the trust declared invalid and the estate distributed among his heirs.
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