253 A.D. 632 | N.Y. App. Div. | 1938
Plaintiff was named as life beneficiary under a deed, of trust of personal property. Thereafter, by a written instrument, he waived all his interest in such trust. The settlor, on November 23, 1921, named another life beneficiary under that trust and made plaintiff life beneficiary under a similar trust set up by will. Later the settlor revoked this will to avoid a threatened contest thereof by her son because of the provision made for plaintiff. In lieu of the testamentary trust, plaintiff received from the settlor an absolute gift in prsesenti of a value more than seven-ninths the value of the corpus of either of the two trusts in which he bad been named, to wit, securities of the value of $74,000. Neither these securities nor their value does the appellant, seeking equity, offer to return to the estate of the settlor in order to do equity. Appellant remained silent for more than ten years after the settlor’s death, during which period he knew that on such death the income of the original trust became payable and was being paid by the trustees to the settlor’s sister, as successor
The judgment and orders should be affirmed, with costs.
Present — Lazansky, P. J., Hagarty, Davis, Johnston and Taylor, JJ.
Judgment and orders unanimously affirmed, with costs.