Security Trust Co. v. Irvine

When James Wilson died, he was survived by five siblings: Martha Wilson, Mary Wilson, Samuel Wilson, Margaret Irvine, and Henry Wilson. James’s will devised his residuary estate to a trust and named Security Trust Company (Security) (plaintiff) as trustee. The will named Martha and Mary, both of whom were single, as the trust’s beneficiaries for their lifetimes. Upon the second sister’s death, the remaining trust property was to be divided equally between James’s brothers and sisters. If any brother or sister had died, that sibling’s share was to pass to the sibling’s children. Martha died in 1928, and Mary died in 1951, terminating the trust. At that time, none of James’s siblings were living. Margaret, Martha, and Mary all died without having any children. However, Samuel was survived by three children and a daughter-in-law (defendants). Security was uncertain how to distribute the trust’s assets. Consequently, Security filed a petition, asking the court to determine whether the remainder interests in James’s estate, meaning the interests to be distributed at the trust’s termination, vested upon James’s death or upon the trust’s termination. If the interests vested at the trust’s termination, then Martha and Mary, whose deaths were prerequisites for termination, could not be considered intended beneficiaries. Security also asked the court to determine whether siblings who died prior to the trust’s termination and without children remained entitled to their remainder interest. Security named Samuel’s children, the executors of the siblings’ respective estates, and their beneficiaries as defendants in the action.