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Dickerson v. Union National Bank
Arkansas Supreme Court
268 Ark. 292, 595 S.W.2d 677 (1980)
- Written by Mary Pfotenhauer, JD
Facts
Nina Dickerson was survived by two sons, Cecil and Martin Dickerson, both of whom had children. Martin was married, and Cecil was not. Nina’s will placed her assets in trust, with Union National Bank (the bank) as trustee. The trust was to continue until Cecil, Martin, and Martin’s widow, who was not identified in the will, had died, and the youngest of Cecil and Martin’s children had reached the age of 25. After Nina’s death, Cecil (plaintiff) filed a complaint against the bank (defendant), arguing that the trust was void under the rule against perpetuities. The lower court rejected Cecil’s arguments, and Cecil appealed.
Rule of Law
Issue
Holding and Reasoning (Smith, J.)
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