New York Court of Appeals
Gilman v. Reddington
December 5, 186124 N.Y. 9
Summary
The New York Court of Appeals held that the testator's residuary trust, which provided for the education and support of his infant children and their unborn issue for a term not exceeding two lives in being, is valid and not void for lack of ascertainable beneficiaries, for permitting the sale of estate assets, or for creating prohibited successive life estates. The court reversed the lower court's declaration that the provision allowing income to be applied to unborn issue was void, but affirmed the remainder of the judgment.