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Cook v. Horn
Supreme Court of Georgia
214 Ga. 289, 104 S.E.2d 461 (1958)
O.J. Massee, Jr., created a revocable inter vivos trust. According to the trust terms, upon Massee’s death the trust income was to be paid to Massee’s wife. Upon her death, the trust was to be divided into equal shares, one for each of their living children, and one for each deceased child who left issue, with the income payable to the child, or the deceased child’s issue, during their lifetimes. Upon each child’s death, the trust principal was to remain in trust for the child’s issue, and distributed to the child’s issue when they reached the age of 21. Massee’s children (plaintiffs) petitioned the court for termination of the trust, arguing that the remainder interests beyond the children’s own interests were void under the rule against perpetuities. The lower court dismissed the children’s petition to terminate the trust, and the children appealed.
Rule of Law
Holding and Reasoning (Wyatt, P.J.)
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