Stewart v. Merchants National Bank of Aurora

278 N.E.2d 10 (1972)

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Stewart v. Merchants National Bank of Aurora

Illinois Court of Appeals
278 N.E.2d 10 (1972)

SC

Facts

Stewart (plaintiff) won a personal injury judgment and created a ten-year, irrevocable spendthrift trust with the proceeds, naming himself as beneficiary. The trust stated that if Stewart died before the trust terminated, the trustee (defendant) should use the remaining proceeds to pay for claims against his estate, his funeral, taxes, and the administration of his estate, and that any remainder would go to his heirs in equal shares if he did not have a separate will. Three years into the trust term, Stewart filed a petition to revoke the trust. The trial court held that the consent of Stewart’s heirs, including unborn heirs was required to revoke the trust. Consequently, the trial court denied Stewart’s petition because the consent of the unborn heirs was unattainable. Stewart appealed.

Rule of Law

Issue

Holding and Reasoning (Guild, J.)

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