136 Iowa 404 | Iowa | 1907
The consensus of opinion seems to be that an active trust wherein the interests of the several beneficiaries have not vested should not be closed, for that this cannot be done without defeating the manifest intention of the trustor, and the facts of this case bring it clearly within this rule. As was observed in Cuthbert v. Cuthbert, 136 N. Y. 326 (32 N. E. 1088, 18 L. R. A. 745), trusts are usually created for the purpose of withholding from the beneficiaries or other interested parties the control and disposition of the principal of the fund for reasons which appear sufficient to the trustor, and they are not usually regarded with satisfaction by the persons who are deprived of the possession of the estate. This, however, furnishes no ground for disregarding the conditions on which the bounty is to be bestowed, nor for refusing to carry out the expressed design of the party creat
The decree of the court was erroneous, and is reversed.