Clay v. Security Trust Co.

252 S.W.2d 906, 1952 Ky. LEXIS 1043
CourtCourt of Appeals of Kentucky (pre-1976)
DecidedOctober 24, 1952
StatusPublished
Cited by4 cases

This text of 252 S.W.2d 906 (Clay v. Security Trust Co.) is published on Counsel Stack Legal Research, covering Court of Appeals of Kentucky (pre-1976) primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Clay v. Security Trust Co., 252 S.W.2d 906, 1952 Ky. LEXIS 1043 (Ky. 1952).

Opinion

DUNCAN, Justice.

This Declaratory Judgment action seeks a construction of the last will and testament of James T. Clay who died a resident of Fayette County in February, 1932.

The Security Trust Company qualified as trustee, and executor under the will, and on January 5, 1952, filed this action in the Fayette Circuit Court. The Bourbon Agricultural Bank and Trust Company, executor under the will of Laura Clay Macey, deceased, Matthew D. Clay, Neal McClure Clay and Charles Wylie, executor under the will of John I. Macey were named defendants. From the construction adopted by the Chancellor, Matthew D. 'Clay and Neal McClure Clay appeal.

The will under consideration is as follows :

“I, James T. Clay, of Lexington, Fayette County, Kentucky, do hereby make this my last will and testament.
*907 “First I desire my just debts and funeral expenses be paid.
“Second I bequeath to Mrs. Gussie P. Rion, of Latonia, Kentucky, the sum of Ten Thousand ($10,000).
“Third All the balance of my estate of whatsoever nature and kind I give to my sister Laura 'Clay Macey, which is to be held by my Trustee hereinafter named during her life, and the in- ⅛ come therefrom is to be paid to her in monthly installments. I desire my Trustee to consult with my said sister in making change of investments' of the said fund. At the death of my said sister, Laura Clay Macey, I direct my Trustee to hold the said estate until my nephew John Ireland Macey, the only child of Laura Clay Macey, arrives at the age of thirty-five years, and direct that the income shall be paid to him in monthly installments until the said fund is turned over to him.
“I hereby give my Executor and Trustee power to sell and transfer any securities that it may hold for my estate and re-invest the proceeds in • such securities or real estate as it may think proper. In the event that my Executor and Trustee should purchase any real estate, it shall have the right to sell the same for re-investment.
“Fourth I hereby nominate and appoint the Security Trust Company, Lexington, Kentucky, my Executor, and Trustee.
“Witness my hand this 21st day of January, 1932.
“James T. Clay”

At the time of testator’s death he was survived by his sister, Laura Clay Macey, two half-brothers, Matthew D. Clay and Neal McClure Clay, and his nephew, John I. Macey (John Ireland Macey), the son of Laura Clay Macey.

John I. Macey predeceased his mother, Laura Clay Macey and died in 1944 before he attained the age of 35. Laura ,Clay Macey died on February 8, 1951.

The property in question, now being held by the Security Trust Company in trust, consists entirely of personalty and amounts to approximately $42,000.

The sole question in the case is whether the remainder interest given to John I. Macey in the third clause of the will was a vested or contingent remainder. Ap-pellees contend and the lower court found that the interest was a vested one and that the fund in question should be paid to the devisee utider the will of John I. Macey. Appellants contend that .the interest was contingent .upon Macey attaining the age of 35 and that inasmuch as he died prior to his 35th year,, the fund descends .under the laws of descent and distribution and is payable to the heirs of James T. Clay.

We realize that precedent is not nearly so persuasive in cases involving construction of wills as in other cases. The paramount reason for that fact is that no two wills are exactly alike, whether phrased in the legal terminology of a trained attorney or in the simple and sometimes illiterate language of the testator. We, therefore, hesitate to say that the construction of any given will is absolutely controlled by any previous construction adopted by this court in considering some other will. Our primary concern is to determine, if possible, what the testator meant by the will under consideration.

Rules of construction are not intended as arbitrary means of fixing in every case the rights of parties under the will. However, most of the rules of modern usage are applied where the intention of the testator is otherwise obscure and because it has been determined that by their application the intention of the testator is more nearly reached.

One of the rules of construction of almost universal application is the presumption against partial intestacy. The rule is that where a will is susceptible of two- constructions, the law favors' that one which disposes of the entire estate. Andrew’s Ex’x v. Spruill, 271 Ky. 516, 112 S.W.2d 402; Corn v. Roach, 225 Ky. 725, 9 S.W.2d 1074; Cuddy v. McIntyre, 312 Ky. 606, 229 S.W.2d 315; Citizens Fidelity Bank & Trust Co. v. Schellberg, Ky., 238 S.W.2d *908 142. The presumption is even stronger where the.will contains a residuary clause. Lester’s Adm’r v. Jones, 300 Ky. 534, 189 S.W.2d 728.

Another rule of equally general application is that which favors the early vesting of estates. All doubts will be resolved in favor of the construction which accomplishes an early vesting unless a contrary intention clearly appears. Gatewood v. Pickett, 314 Ky. 125, 234 S.W.2d 489; Johnson v. Foley, 302 Ky. 848, 196 S.W.2d 733; Winn v. William, 292 Ky. 44, 165 S.W.2d 961.

Two other' rules of particular applicability to the problem here presented are the following: (1) the absence of a gift or limitation over in the event of failure to attain a specified age is regarded as indicating an intention on the part of the testator that the gift should vest immediately; (2) a gift of the substance to which futurity is apparently annexed' is not considered contingent upon the attainment of a specified age where there is a gift of the intermediate use.

In the case of Danforth v. Talbot’s Adm’r, 46 Ky. 623, 7 B.Mon. 623, the court had before it for a construction a will the applicable portions of which were as follows:

“7th. On the decease of my said wife, the above described farm, &x., &c., shall -become the property of my son Cyrus, when 'arrived at the age of tweiity-six years, (excepting the reservation in favor of Ann R.;) but after providing for -the support and comfort of his mother, he may be entitled to all the profits arising from the same', except the reserved rights of his sister, Ann R.”

In that case the court in a well-reasoned opinion held that the estate devised to Cyrus Talbot was not contingent upon his attaining the age of 26, but that the devise had the effect of merely postponing the time of enjoyment. .

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Bluebook (online)
252 S.W.2d 906, 1952 Ky. LEXIS 1043, Counsel Stack Legal Research, https://law.counselstack.com/opinion/clay-v-security-trust-co-kyctapphigh-1952.