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SIMMONS v. PARSONS COLLEGE

No. 2-59053.

256 N.W.2d 225 (1977)

Dorothy SIMMONS, Executor of the Estate of Lester Morgan Wells, Deceased, Appellee, v. PARSONS COLLEGE et al., Defendants, and Drake University, Appellant.

Supreme Court of Iowa.

July 29, 1977.

Attorney(s) appearing for the Case

Ahlers, Cooney, Dorweiler, Haynie & Smith, Des Moines, for appellant.

Kelly & Morrissey, Fairfield, and R. A. Sloan, Jr., Iowa City, for appellee.

Heard before MOORE, C. J., and MASON, LeGRAND, REES and UHLENHOPP, JJ.

LeGRAND, Justice.

This declaratory judgment action was brought to construe the will of Lester Morgan Wells as it relates to two trusts established for the education of needy students at Drake University and Parsons College.

The will was executed on August 15, 1969. Lester Morgan Wells died on January 3, 1974. After the execution of the will but prior to the testator's death, Parsons College became bankrupt. It no longer operates as an educational institution...

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