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LANCASTER v. MERCHANTS NAT. BANK

No. 91-1128.

961 F.2d 713 (1992)

Frances LANCASTER; Larry Lancaster, Appellees, v. MERCHANTS NATIONAL BANK OF FORT SMITH, ARKANSAS, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided April 7, 1992.

Attorney(s) appearing for the Case

William P. Thompson, Fort Smith, Ark., argued (M. Keith Blythe and James Llewellyn, Jr., on brief), for appellant.

O. Christopher Meyers, Lawton, Okl., argued, for appellees.

Before McMILLIAN, Circuit Judge, BRIGHT, Senior Circuit Judge, and JOHN R. GIBSON, Circuit Judge.

BRIGHT, Senior Circuit Judge.

Merchants National Bank (Merchants) appeals the district court's judgment, which held that Chester and Grace Kingsbury's trusts were not charitable and, thus, were void because they violated the rule against perpetuities. We reverse.

I. BACKGROUND

The Kingsburys established two mirror image inter vivos trusts on February 19, 1988. They named Merchants to serve as the trustee, following Chester's death, and established...

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