302 Mass. 483 | Mass. | 1939
This is a petition in equity, brought in the Probate Court by the petitioner as it is trustee under the will of Clark B. Holbrook, late of Springfield, deceased, in which the petitioner seeks to be instructed whether any portion of the trust estate remaining in its hands should now be distributed. The petition contains a further prayer that the “ court will . . . determine the persons entitled to receive the income from” the trust fund.
The testator died in 1908 leaving as his heirs at law his widow, Mary L. Holbrook, and four children, Mary E. Ballou, George Holbrook, Emma L. Nelson and Clark B. Holbrook, Jr. The will of the testator w-as duly allowed
The widow of the testator died in 1919 and was survived by the four children. The testator’s daughter Mary died February 27, 1936, leaving three children who are among the respondents. Pursuant to decrees entered in the Probate Court on November 13, 1936, and October 15, 1937, the petitioner distributed to these three children one fourth of the entire trust estate. The petition recites that the respondent Springfield Savings Bank is entitled by virtue of a decree entered in the Superior Court to receive all income and principal “due the respondent Emma L. Nelson,” and that the “petitioner has received notice of a written assignment” by that respondent and William H. Nelson of all “right, title and interest in and to said trust fund to the respondent Keene National Bank.” It is further recited in the petition that some of the respondents contend that at the death of the widow, one twentieth of the principal of the trust fund should have been distributed to each of the four children who survived her, and that the three children now living claim to be entitled to a distribution of one fifteenth each of the trust fund now in the hands of the petitioner. No contention is made that the balance of the trust fund which would in that event remain should not continue to be held in trust for the three living children of the testator during their respective lives as provided in the will.
The judge entered a decree “that there is no distribution of principal of said trust fund now due or payable and that the income from said trust fund is presently payable, in equal shares, to Emma L. Nelson, George Holbrook and Clark B. Holbrook, said share of said Emma L. Nelson being payable to Springfield Institution for Savings under equity decree of Superior Court and also subject to assignment to Keene National Bank.”
The respondents Emma L. Nelson, William H. Nelson and Keene National Bank joined in an appeal therefrom.
These contentions cannot be sustained. The intent of the testator is to be ascertained from a consideration of the will as a whole, read in the light of the material circumstances under which it was executed. When so ascertained it must be given effect unless some positive rule of law forbids. Ware v. Minot, 202 Mass. 512. Old Colony Trust Co. v. Shackford, 291 Mass. 361. Old Colony Trust Co. v. Washburn, 301 Mass. 196, 200, and cases cited. Thus considered, so far as any present question is„ concerned, it is clear that the testator gave and intended to give to his children who survived his widow that portion of the income of the trust estate which she had enjoyed during her life. There is no rule of law that forbids such a gift of income only, even though the testator should fail to provide for a devise or bequest over of the principal of the trust estate from which such income is derived. Such a gift would confer upon a beneficiary but an equitable estate for life, even though upon the termination of such estate an intestacy would result. This is settled by what is said in Cavan v. Woodbury, 240 Mass. 125. See also Worcester Trust Co. v. Turner, 210 Mass.
The decree of the Probate Court is affirmed. Costs and expenses of this appeal may be allowed in the discretion of that court.
Ordered accordingly.