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McCOLLUM v. WILLIAM McCOLLUM CORP.

81-584.

435 So.2d 4 (1983)

William Cleveland McCOLLUM, Jr. v. WILLIAM McCOLLUM CORPORATION, et al.

Supreme Court of Alabama.

July 1, 1983.

Attorney(s) appearing for the Case

J. Paul Whitehurst of Henley, Whitehurst & Shirley, Northport, for petitioner.

Isaac P. Espy of Gray & Espy, Tuscaloosa, for appellees.

EMBRY, Justice.

The issue in this case is whether, under the instant trust, trustees were empowered to convey trust property to a corporation in exchange for all of the stock of the corporation and then distribute the corporate stock to the beneficiaries of the trust.

The Circuit Court of Tuscaloosa County granted William McCollum Corporation's (the Corporation) motions for summary judgment and denied William Cleveland

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