BANK OF DELAWARE v. SMITH


211 A.2d 591 (1965)

BANK OF DELAWARE, a banking corporation of the State of Delaware, Trustee U/A of Joshua A. Ellegood, Plaintiff, v. Claire Ellegood SMITH, Alan A. Smith, a. k. a., Alan Dashiell, and Winder D. Smith, Defendants.

Court of Chancery of Delaware, New Castle.

June 15, 1965.


Attorney(s) appearing for the Case

Henry N. Herndon, Jr. of Morris, James, Hitchens & Williams, Wilmington, for plaintiff.

Richard L. McMahon of Berl, Potter & Anderson, Wilmington, for defendants.

Arthur J. Sullivan of Morris, James, Hitchens & Williams, Wilmington, guardian ad litem.


SEITZ, Chancellor.

The issue raised by this request for instructions is whether the income beneficiary who is not the settlor of an inter vivos trust may, after having accepted the income therefrom for years, renounce or disclaim a portion of such income so as to make it available for the succeeding interest.

The testator died April 2, 1928, and his widow died July 12, 1946. One child, Claire Ellegood Smith, a defendant ("daughter"), was born of the marriage...

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