Colonial Bank & Trust Co. v. Stevens

316 A.2d 768, 164 Conn. 31, 1972 Conn. LEXIS 642
Supreme Court of Connecticut·Decided November 1, 1972·Published·Cited by 16 cases

Opinion

House, C. J.

This action, which came before us on a reservation from the Superior Court, sought advice on several questions involving the construction, validity and legal effect of a trust created by the will of George A. Stevens, Jr., to whom we will hereafter refer as the testator. The parties joined in requesting the reservation, agreed on nine questions to be submitted for the advice of this court and stipulated that “[t]he questions arise upon the facts admitted in the pleadings.”

This court found that the record was insufficient to afford a basis for an answer to the reserved questions and remanded the case to the Superior Court for a hearing and decision or the ascertainment of additional facts necessary to an answer to the questions propounded by the parties. Colonial Bank & Trust Co. v. Stevens, 163 Conn. 612, 316 A.2d 768. In ordering the remand, we indicated the areas *33 in which we found the record to be deficient. Thereafter, the parties joined in a motion for leave to reargue and, with the permission of this court, filed a further stipulation correcting the deficiencies in the earlier record as submitted. In view of the nature of the action, the joint motion of the parties and their further stipulation, we decided to accept the reservation and consider the reserved questions on the basis of the original record as supplemented by the additional stipulation.

The testator, a resident of the town of New Milford, died on March 26,1967, leaving a last will and testament executed on September 27, 1966. The will was duly proved, approved, allowed and admitted by the Probate Court and letters testamentary were issued to the executor therein named which, as the result of a merger, is the present plaintiff trust company, now the trustee. The executor has settled all claims against the estate and the Probate Court has accepted and approved its administration account. No assets have been turned over to the bank as trustee pending the termination of this action.

On the date of his death, the testator, a widower, left, as his sole heirs-at-law and next of Mn, two sons, George and Robert, and four daughters, Mary, Katherine, Etta and Grace. They, along with their children, are the defendants. All of the children of the testator have children of their own with the exception of Robert who, at the time of the testator’s death and up to the time of the bringing of this action, was unmarried. As some of the grandchildren of the testator are minors, the court appointed a guardian ad litem for those minor defendants and “for all future unborn grandchildren or great grandchildren of the decedent.”

*34 The troublesome portion of the will and the one which gives rise to the present action is Article Six, 1 which established a testamentary trust of the residue of the estate after the satisfaction of the legacies set out in Articles Two, Four and Five. Under the provisions of Article Six, the trustee is *35 directed to pay over to G-eorge, Mary, Katherine, Etta and Grace the sum of $400 a year, and to Robert the sum of $600 a year “until the corpus of said trust, together with all accumulations of rents, profits, issue and income thereon, has been fully distributed.” While in some instances such a provision would, without more, suffice to insure a distribution of all income and corpus to designated individuals, the supplemented record discloses that from the date of the death of the testator to the present date the annual income from the residuary estate, after deducting the costs of administration, has exceeded the specified total annual payments to the beneficiaries named in the will and the reasonable probability is that without any invasion of the corpus of the trust estate the income alone will be sufficient to make all the annual payments specified in the will. The record indicates that on June 30, 1972, the trust estate had a market value of $68,427.27. Thus, the questions reserved for our advice 2 primarily concern what should be done with *36 the income from the trust which exceeds the required annual payments under Article Six, §§ 2 (a) and 2 (b) of the will and when, to whom, and in what proportions, the corpus should be distributed in the event that it is not exhausted by the payment of the specified annual payments.

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Colonial Bank & Trust Co. v. Stevens, 316 A.2d 768, 164 Conn. 31, 1972 Conn. LEXIS 642 (Colo. 1972).

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