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SMITH v. BANK OF DELAWARE

219 A.2d 576 (1966)

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

Supreme Court of Delaware.

May 4, 1966.

Attorney(s) appearing for the Case

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

Henry N. Herndon, Jr., and Arthur J. Sullivan, of Morris, James, Hitchens & Williams, Wilmington, for appellee.

CAREY and HERRMANN, Justices, and STOREY, Judge, sitting.

CAREY, Justice.

The question presented by this appeal from the Court of Chancery is whether the living beneficiary of a spendthrift trust may, after having received the benefits for many years, renounce a portion of the future income.

The appellee, as trustee of an inter vivos trust created by Joshua A. Ellegood, filed a bill seeking instructions on the debated question. The Court below held the renunciation invalid...

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