Petition of Wolcott
New Hampshire Supreme Court
56 A.2d 641 (1948)
- Written by Sean Carroll, JD
Facts
Francis Getty died, leaving a will that gave $2,500 to his wife, Ada Getty, gave $5,000 to each of his two sons, and created a trust for the residue of his estate. The trust called for income payments to Ada during her lifetime and distribution of the principal to Francis’s living issue at the time of Ada’s death. The will gave the trustee substantial discretion in managing the assets of the trust. The will neither allowed nor explicitly prohibited any payments from principal to Ada. When Ada’s health deteriorated and income from the trust decreased, Ada needed more money for her care than the income from the trust provided. The trustee, Wolcott (plaintiff), filed a petition with the court seeking permission to take principal from the trust to pay for Ada’s care, thus deviating from the provisions of the will. The Gettys’ sons and grandson consented to the petition.
Rule of Law
Issue
Holding and Reasoning (Duncan, J.)
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