Bussell v. Wright
| Decision Date | 05 November 1907 |
| Citation | 113 N.W. 644,133 Wis. 445 |
| Parties | BUSSELL ET AL. v. WRIGHT. |
| Court | Wisconsin Supreme Court |
OPINION TEXT STARTS HERE
Appeal from Circuit Court, La Crosse County; J. J. Fruit, Judge.
Action by Herbert E. Bussell and others against George A. Wright, as trustee, under the will of W. C. Bussell, deceased, for the purpose of decreeing a termination of the remaining trusts under the will and a distribution of the trust fund. From a judgment denying all relief, plaintiffs appeal. Affirmed.
W. C. Bussell, of La Crosse, Wis., made his will, dated June 13, 1896, and codicil, dated August 15, 1896, and died November 13, 1896. By said will he disposed of a large amount of property in the form of legacies and trusts. The specific legacies have been paid, and some of the trusts executed. This action was brought by the parties interested in the trust fund against the trustee for the purpose of decreeing a determination of the remaining trusts which have not ceased by expiration of time, and for a distribution of the trust fund among those entitled thereto. The portions of the will necessary to be considered upon this appeal are the following:
“Sixteenth: I give, devise, and bequeath all the rest, residue and remainder of my estate and property, real, personal and mixed, whether situate and being in the state of Wisconsin, or elsewhere, unto Marcellus B. Greenwood, of La Crosse, Wisconsin, his successors, heirs and assigns forever; but in trust, nevertheless, for the performance of this my will concerning the same, that is to say. * * *
(4) To set aside the sum of five thousand dollars as a fund for the benefit of said Leslie Joseph Bussell, to add the interest thereon each year to the principal to pay to said Leslie Joseph Bussell from said fund five hundred dollars when he shall be twenty-one years old, to pay him one-half of the balance of said fund, when he shall be twenty-five years old, and to pay him the remainder of said fund when he shall be thirty years old.
(5) To set aside the sum of five thousand dollars for the benefit of Ethel A. Gerrish, of Grand Meadow, Minnesota, and pay her one thousand dollars at once; to invest the remaining four thousand dollars for her benefit and pay the income thereof to her each year until her marriage when he shall also pay her one thousand dollars; three years after her marriage he shall again pay her one thousand dollars from said fund; six years after her marriage he shall also pay her one thousand dollars from said fund, and shall pay her the balance thereof nine years after her marriage. In case she should not marry within three years after the first cash payment above directed to be paid her, then, in addition to said first cash payment, the balance of said fund shall be paid her as follows: One thousand dollars in three years after the first cash payment; one thousand dollars in six years after the first cash payment; one thousand dollars in nine years; and the balance in twelve years after said first cash payment. The annual income of said fund shall not be paid to said Ethel E. A. Gerrish each year subsequent to her marriage, or if she be not then married then, subsequent to three years from the first cash payment herein directed to be made to her, but shall be added each year to said fund, but if said Ethel E. A. Gerrish shall die before the completion of said payments leaving issue surviving her, then such payments as would have been made to her had she lived, but are not made to her on account of her death, shall be made to such issue in the same manner and amounts as they would have been made to said Ethel E. A. Gerrish had she survived, provided said issue live long enough for said payments to be completed. In case of the death of said Ethel E. A. Gerrish without leaving issue surviving, or before the completion of said payments as herein directed to be made to her, then the balance remaining unpaid to her of said fund shall be added to the general trust fund hereby in this will created.
(6) To pay to the eight children of Mary E. Martin late of Oakfield or Buileiglo, Aroostook Co., Maine, deceased, viz: Nelson C. Martin, Frances Mabel Martin, Bertha Martin, Edith Martin, Lucy H. Martin, Lizzie Bell Martin, Preston Martin and Marion Martin, all of Oakfield or Buileiglo, Aroostook County, Maine, to each of them one thousand dollars, making eight thousand dollars in all, when they shall have respectively reached the age of twenty-one years; that is, the share of each shall be paid as each one becomes twenty-one years old. In case of the death of either of said children before becoming twenty-one years old, without leaving lawful issue then his or her share shall be paid to his or her surviving brothers and sisters (they being of the age of twenty-one years) share and share alike.
(7) To set aside the sum of seven thousand dollars as a fund for the benefit of my niece Abbie G. Hestad, of Grand Meadow, Minnesota, and to pay her out of the same the sum of one thousand dollars at once; to invest the remaining six thousand dollars and add the income thereof to the principal each year, to begin at the end of two years from said payment of one thousand dollars, and pay her four hundred dollars out of said fund each year payable quarterly, and make such payments each year up to the end of fifteen years from said payments, of one thousand dollars, when he shall pay her one half of said fund then remaining, to begin again at the end of one year from the last payment above directed to be made and pay her out of the remainder of said fund four hundred dollars each year payable quarterly until twenty years shall have elapsed since said first payment of one thousand dollars, provided said fund shall not be sooner exhausted, and to then pay her the balance if any, of said fund, provided however, that in case of the death of said Abbie G. Hestad at any time prior to the time above limited, or said last payments, the balance of said fund then remaining shall revert to and become part of said general trust fund, to be disposed of as otherwise herein directed; provided that if said Abbie G. Hestad shall die before said payments are completed, leaving issue surviving her, then said trustee shall...
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