"This indenture made and entered into this 31st day of December 1903 by and between Thomas B. Melvin of Pettis county, Missouri, party of the first part and Louis Hoffman of Sedalia, Missouri, party of the second part, witnesseth, that the party of the first part for and in consideration of the sum of one dollar ($1.00) to him in hand paid by the party of the second part, the receipt whereof is hereby acknowledged and of the love and affection he bears for his sisters Mrs. Lula Melvin Thomson and Mrs. Nannie Melvin May and for other good and valuable considerations moving him thereto does by these presents, grant, bargain, sell and convey unto Louis Hoffman the party of the second part hereto, the following described real estate, situated in the county of Pettis and state of Missouri, viz. [here follows description of land], and he does also hereby assign, transfer and convey to him, the said Louis Hoffman, all of the distributive share of the personal estate of his deceased mother Mrs. Mary M. Melvin, coming to him as one of the heirs and distributees of said estate, and hereby authorizes and empowers the said Louis Hoffman to receive said distributive share from said Administrator and the necessary receipts
acquittances and discharge to execute and deliver therefor.
"This conveyance and transfer is made upon the following uses and trusts and to the said Louis Hoffman as trustee for the following purposes, viz.: Upon the execution and delivery of these presents the said Louis Hoffman being invested hereby with the fee simple title to said real estate and to a right to said distributive share, upon and for the uses and trust hereinafter set forth and declared, shall at once enter upon and take possession of said real estate. He shall use and manage the said real estate in such a way as shall seem to him to the best interest of the parties hereto, he may if he sees proper, permit and allow the party of the first part to cultivate and farm the same, but all the income, rents and profits therefrom shall be paid over and delivered to said second party; he may buy stock, farming implements or whatever may be necessary for the profitable and proper use, conduct and management of said farm and may feed and raise stock of any and every sort, but the property and the proceeds of all such investment and uses shall be and remain the property of said Louis Hoffman upon the uses and trusts aforesaid said Louis Hoffman may lease said farm or otherwise conduct and manage it as he may deem to the best interest of the parties hereto. He shall invest the net proceeds arising from said farm operations and the money received from said distributive shares upon such terms, conditions and securities as he shall deem safe and secure: he shall pay all taxes which may be imposed upon any and all of said property; he shall keep a book account of all moneys received and all disbursements and in which shall be fully stated the facts, and these books shall at all times be open to the examination of the parties hereto. Out of said moneys, investments, interest and proceeds, the said Louis Hoffman shall set apart and pay said party of the first part during his life time a sufficient sum of money, monthly or otherwise, as he may deem convenient and expedient for the support and maintenance of himself and any family he may have, provided such payments shall never be in such amount as not to leave funds to pay all taxes and to at all times leave the real estate or its proceeds intact and fully protected and preserved for the benefit of the remainderman hereafter mentioned. It shall be entirely discretionary with the said Louis Hoffman to pay over to said party of the first part the sums of money as hereinbefore directed. If any attempt is made to anticipate such payment, or if such money should be diverted by the contracting of debts or liabilities of the said party of the first part, said Louis Hoffman shall withhold the same and shall a low such money to accumulate, but he may purchase for the family of said party of the first part, if he have any, provisions and other necessaries for their maintenance.
"The said Louis Hoffman shall also have full power and authority to sell, transfer and convey the real estate hereinbefore described or others which may be bought in place thereof, as hereinafter directed, and to convey the feesimple title thereof free from the uses and trusts herein declared upon the written consent to him of the party of the first part and the said Nannie M. May and Lula M. Thomson or such of those as may be living at the time of such sale shall be made and the proceeds of such sale shall be invested in other real estate or other securities upon the like uses and trusts as are herein declared and set forth with full power to change the investment and convey or assign the same either real or personal but always subject to the same uses and trusts, as are herein declared. The said Louis Hoffman may erect such buildings as may be necessary upon said lands or any of them as may be necessary for the comfortable use and occupancy thereof by said party of the first part or himself and family. Upon the death of the party of the first part the trust shall continue for the use and benefit of the family of the party of the first part if he leave any during the widowhood of his wife if he leave any, and of the minority of any child or children if he leave any. Upon the death of the party of the first part leaving no wife or child or children, or upon the death or marriage of his widow, if he leave any, and upon the majority of his child or children, if he have any, then the party of the second part shall convey and transfer to his sisters Mrs. Lula Melvin Thomson and Mrs. Nannie M. May, their heirs, executors, administrators or assigns share and share alike the real estate hereinbefore described, or such other real estate or other investment into which said lands may be changed as also whatever may remain of any of the personal estate aforesaid.
"It is understood that the party of the second part shall retain from the property herein referred to a reasonable compensation for his services and for the care and management of the trust hereby imposed upon him and such necessary expenses and outlays as may be incurred in the exercise of his discretion and in his judgment in the premises.
"And the said Louis Hoffman party of the second part, hereto asumes the duties of the trust hereby imposed and covenants and agrees to faithfully and honestly discharge the same.
"In witness whereof the parties of the first and second part hereto have subscribed their names and affixed their seals the day and date first aforesaid.
"[Signed] Thos. B. Melvin. [Seal.]
"Louis Hoffman. [Seal.]
"State of Missouri, County of Pettis—ss.:
"On this 31st day of December, 1903, before me personally appeared Thomas B. Melvin and Louis Hoffman to me known to be the persons described in and who executed the foregoing instrument and acknowledged that they executed the same as their free act and deed.
"In testimony whereof I have hereunto set my hand and affixed my official seal at my office in Sedalia the day and year first above written.
"My commission expires on the 31st day of December. 1903.
"[Signed] A. P. Morey
"Notary Public. [Seal.]
"Com. ex. Jany. 15, 1907
"Filed for record on the 31st day of December A. D. 1903, at 3 o'clock and 30 minutes p. m.
"[Signed] Lee Looney, Recorder."
"Plaintiff states that said instrument, except for the power of revocation, did create a voluntary settlement, both unreasonable and improvident, that said instrument was executed by this plaintiff when he was a young man, and it was not his intention at the time of executing said instrument that the same should be irrevocable; that at the time he executed said instrument he did hold conference with the defendants to this suit, and with their counsel, and he was not advised that said instrument was irrevocable, but this plaintiff at the time of executing said instrument understood and intended that such instrument should and did create a revocable and voluntary settlement. Plaintiff states that the defendants Melvin Thomson and Nannie M. May are his sisters, that they are not now, and were not at the time of executing such instrument, dependent upon this plaintiff, but they both are, and at such time were, in independent circumstances, and this plaintiff was under no obligation or duty to execute said instrument in their...
