Loud v. St. Louis Union Trust Co.

249 S.W. 629, 298 Mo. 148, 1923 Mo. LEXIS 160
CourtSupreme Court of Missouri
DecidedApril 6, 1923
StatusPublished
Cited by29 cases

This text of 249 S.W. 629 (Loud v. St. Louis Union Trust Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Loud v. St. Louis Union Trust Co., 249 S.W. 629, 298 Mo. 148, 1923 Mo. LEXIS 160 (Mo. 1923).

Opinion

*159 WOODSON, J.

This suit was brought in the Circuit Court of the City of St. Louis, by the plaintiff against the defendants, to have declared void a trust created by the will of Mary Jane Blanke, deceased, the contention being that it violates the rule (instead of the statute, as I have inadvertently stated in former opinions written on this subject) a.gainst perpetuities, and for collateral relief incident thereto.

There is no controversy over the facts of the case; while they are not agreed to, yet they are not disputed. They are stated by counsel for plaintiff substantially in the following language:

Mary Jane Blanke died in St. Louis on the 12th day of May, 1914. At her death she was the owner' of several pieces of real estate, located in said city, and a large amount of personal property. The value of her personal estate alone aggregated more than eight hundred thousand dollars. It consisted of secured notes, stocks, municipal and corporate bonds, certificate of deposit and cash in bank. At the time of the trial of this cause in the lower court, on March 17, 1920, the personal estate had greatly increased in value.

At her death, Mary Jane Blanke left surviving her the appellant, Ida Mary Loud, who was her only child and her sole heir at law. At the death of Mrs. Blanke, Mary Loud had three children, i. e.: Archibald Chester Loud, who was then twenty-six years old plus, Harold Lester Loud, who was then twenty-four years old plus, and August Blanke Loud, who was then eighteen years old plus. At said time the husband of plaintiff and the *160 father of said children was still alive, and he was living at the date of the trial of this cause in the lower court. Mrs. Loud’s age at Mrs. Blanke’s death was approximately fifty-four years.

In addition to the above, Mary Jane Blanke left at her death, as her only relatives, a brother, Joseph B. Farmer, and said Joseph B. Farmer, at the date of the institution of this action, had, as his only living descendants, Percy Farmer, Clarence Farmer, Eva Gleage, Ruth Wackman and May Farmer.

Mary Jane Blanke left a will which was duly admitted to probate by the Probate Court of the City of St. Louis, on the 23rd day of May, 1914, which said will (omitting attestation) was as follows:

“I, Mary Jane Blanke, widow of the late August H. Blanke, of the city of St. Louis, and State of Missouri, do make, publish and declare this as and for my last will .and testament, hereby revoking any and all former wills made by me, that is to say:
“First:
“I authorize and direct my executor, hereinafter named, to pay out of my estate, as soon as may be after my death, all my just debts and funeral expenses. ■
‘ ‘ Second:
“I give and devise unto my only child, my daughter, Ida Mary Loud, for and during her natural life, my residence in the said city of St. Louis, known as number 3219 Russell Avenue, and the ground upon which the same is situated, being lots numbers four (4), five (5) and six (6), in block number thirteen hundred and two (1302), of the said city of St. Louis, fronting one hundred and thirty-two feet and six inches (132' 6") on the north line of Russell Avenue, by a depth of one hundred and twenty-five feet (126') to an alley.
“And I hereby give and bequeath, absolutely, unto my said daughter, all my household and kitchen furniture, ornaments, and equipment, including silverware, musical instruments, books and pictures, which, at the *161 time of my death, may be in or appurtenant to my said residence or the premises above described.
‘ ‘ Third:
“(a) I give and devise unto my grandson, Archibald Chester Loud, the dwelling house known as number 1930 Virginia Avenue, in the said city of St. Louis, and the fort3r feet (40') of ground upon which the said house now stands.
“(b) I give and devise unto my grandson, Harold Lester Loud, the dwelling house known as number 1921 Virginia Avenue, in said city of St. Louis, and the forty feet (40') of ground upon which the said house now stands.
“(c) I give and devise unto my grandson, August Blanke Loud, the forty feet (40') of ground fronting on the east line of Virginia Avenue, in the said city of St. Louis, contiguous to and south of the lot upon which the said house number 1930 Virginia Avenue now stands; provided, however, and said three devisees are made subject to the condition, that until each- of my said grandsons shall have married or shall have reached the age of thirty years, whichever may first occur, his mother my said daughter, Ida Mary Loud, shall be permitted to enjoy and receive the rents and profits from said property so devised to him upon payment by her of all the taxes, insurance and other charges against the land and the improvements- thereon; but if she shall die before the marriage of such grandson or his arrival at the age of thirty years, the said devisees shall thereupon enter at once upon the enjoyments of said land and improvements.
“(d) In order to equalize the foregoing devises to my said three grandsons, I give and bequeath unto my executor hereinafter named, the sum of seventy-five hundred dollars ($7500), which shall be held by it as trustee for my said grandson, August Blanke Loud, until he shall either have married or reached the age of thirty years, in which event first occurring it shall pay over to him the said sum, with the increment thereto, after having de *162 ducted, from time to time, from tlie income derived from the said seventy-five hundred dollars ($7500) the amount of taxes upon said lots devised as aforesaid to my said last-named grandson; and pending such payment said executor shall have the same powers of investment, sale and reinvestment with reference to the said fund as are given hereinafter to the trustee hereunder with respect to my residuary estate.
“Fourth:
“All the rest and residue of my estate, of every nature whatsoever and wheresoever situate, of which, at the time of my death, I may be seized or possessed, or to which I may be in anywise entitled, including the remainder of the real estate above described, I give, devise and bequeath unto the St. Louis Union Trust Company, a Missouri corporation, and unto its successors and assigns, as trustee, however, for the uses and purposes, upon the terms and conditions, and with the powers and duties hereinafter stated, to-wit:
“ (a) The trustee shall have power, at any time and from time to time, to sell any of the trust property or estate, for such price or prices and upon such terms and conditions as it may determine. Any money coming into its hands as the proceeds of any such sale or otherwise, and forming a part of the principal of said trust estate, shall be forthwith invested by it. In making such investments the trustee is given full power to purchase any property, real or personal, which it may think desirable to acquire and hold as part of the said trust estate.

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Bluebook (online)
249 S.W. 629, 298 Mo. 148, 1923 Mo. LEXIS 160, Counsel Stack Legal Research, https://law.counselstack.com/opinion/loud-v-st-louis-union-trust-co-mo-1923.