The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-23

FAMILY sErTLnuNY
ScIr. iv.-6ps-s, dc, -. nney dr-This Il IN -.
cable suit to vaesss or correct voluntary family sss-
mcut. alleged to have been drawa up by mistake 1. .
form not truly expressive Of the intent Il The nstIo
and to be vosd AZ stands, partly nor uncertainty -
20 s. ,s e Ss as y ' sons ss,. g
10 ogcrr In trust, 10 receive The income sppay IL
rt To the payment Of his exisng dsbts and seoocay
h,s DEATH 70 convey the Zee capital "a hls chidrsu
then In tciag. such arrangement Il ID 0bvious-AAA
Of absolute alienation The trustee cannot sell bscsuss
The trust dccn not authorize him 10 do Ths bowed
afie ai least 81 them cannot because ~ the
rents and profits, they made inaiicabe BY law
tccauss Ms 70 the capital thu children living NJ thsar
h,hsr's death, 20 whom {. IL than 10 belong, may b.
totally different from the two born Hence thers ere
no fotrons In being by whom the statute e.
Presses " IAN absolute ice In po~.eaon be conveyed"
s,e no, pohltcd On the contrary Il RESTRICTED 10 tee
hves They are rrpreay allowed; aud In minority
even Tor possible reriod q "a years In the pc.
sent ins,anee tho o~nerahip becomes absolute Mr..
Tlieys death The suspenson IA for his HE and his ma
enly Fo, shhoesh the Income (.ub,ee. % me deb) :
not for their lives absolutely bu, ior shorter psrAs
'or period at all events which cannot bc loneur bet
Ai'cd The application OF the income 30 bc mads 70 A.
use OF the children during their lvc unass their tier
should sooner die On his death tho certainly tsr
inmates and ALEC the character Il the iutse
estate, From that time the fenir u le rco~ivs6 Al
reciy BY the children ,hemsei,o ,hnn In being ins -
other In e, With full power also " dispose u ne
estate itsclf without restriction qualification II mag
be asked should both the present children tno oshers
being born) die before their father what thea u " bs
done with the incomcs In tho Language of the stata
answer that mot beng embraced II tbs trust and nse
being Otherwise disposed Of Il remains Ia or rsvsrts -
however 70. my purpose say that subject 70 tho ra
Of suspension Above stated the lAv expressly Aushos
tse~ the creation az trust to receive rents aud proa
and apply them 70 the ~ any person during this M =
such person, or Tor shorter torn" And might
mon understanding that application Of income during
persons iie or r shortes period 70 the Of ssc6
s s or ~ ,. = :. ssP,.s o., Of income % sSsx :.
bm,ef and that authority, therefore, "a crssNs
trust r the latter purpose necessarily compassionate ~
right Of dtne 80 for tho former. Next - 70 the spplA
tion OF the income u tho payment Of existing debts 40
ncunbrances Tho statute 81 trusts -s csrtsss
purposes for any either 81 wheh--,ha, "a Tar aay
one moro ~ which IN tho tn.trament-trus q
real property be created Among thcec H. FIRST tAa
payment q debit generally and secondly the sAu.yiss
d"any chaIges' az they called, tho particular
land General debts % hs paid by " s-lns The .sA~
charges. by selling, morixasing, or ,s..nx q. ne
ceiling lands Tor term ~ years, ~ In The ~ tan
sales In this city, legally recognized form ~ esprss
suitable designation ~ care, whore the whsle rent,
dor the name Of purchase money IL taken In Advanss
80 that ,clling, when for limited auubsr 81 yssrs,
wi ether short or long Is but mode of -sJrg-s.l
icssing Ia rome a. it, nsIeo'r 81 but moe of .rnx.
snas he ' ~ h 70 1cSss rs@s o and Ind
ful. II clearly impiics trast 10 lease trax,
sell iearehold inercat-tth eiiborAans thu rsaA
al down ~ advance or receiving II IRON tune to time, il
periodical ipstsmenia. Tho latter rnode ADMIT would
10 one view, be VOID A. against creditors Hut cred
tor IN this ompsina, ana provision dssA
requires hc trustee without the oonson the orstosa
10 lease la that mode BeAlder what prevents tho
making lease with the usuAi ressrvausu -
sell his lease we'll a. the iepsre IN either h
s.le Of land p, more rrape.y sPe.anx q Al eas.' !.
policy, restricts the sae 20 a sale Ia fee 70 tha
debt Of the granior were In the form Of nsft9Ag~.
the trust H. lease Tor The purpose Of ssyins them
clearly lawful and within the very words u the ssstus
And may not general debts, when existing aud actnoUs
% IN ,, ,sss' ~ s"s , z y Without e.
trust prsniisesf Had ib. srantor consssd ldxnsss
tot their psyment such judgment ~oud dearly hAvs bssa
contessisn In deed recorded deed and conp ssiss
in lea formal certificate recorded jadxmeaw -
existing Jast des Il the gsusor especially siscs he
Code qnass ohsrgr- upon the isn eouscy~i ash
that the convey noe far 1t obsruta their rscsv-
cry at ALI 10 be sdjudged d s1sct This bovsv-s
Is only nj the Instance Of the creditor ~ any who c4s.
plains The statute q frauds doea no. make assas Slsy
Ing creditors void absoluielybut void only sxaiasG
the creditors dflay ed which tbis bill does ns1
pre~nindsod II does not n,ge the existence Il
the debts have been paid and at he ncnmbfAn0es ssls
hed, except mortgage 81 80 oooths holder u vhnA
seesfsed or isseo.e aud &c, tho shol. Al oass rss
trnst deed neither docs could ia any
Tor. Do %" sc Wy The deeds asnss s1 70 b. he
not 20 that extcni valid trust mortgages 1sss -
ease Of le.,eh ". Hans;sr ia the ceart q Appeals.
tomst, I'll The trust Ia favor 81 the chn
drcn u Mir. sbd Mr.. 1iey already born ami suoh =
may be born of the lawful issue ~ Mr.. aud Mrs. Tsy"
although badly o1pfe@acd means the eyisiinx ehfssa
and such q any should 10 Afterwards born. b~ss9
lawful ssus Ut the sran,or and bin vile Al svwsis
there ~ eueb iasuf 1ouniAblc uncertainty L.
u a. "a render the trust tina, grogad vsAl
Tie result then 81 first, that ailhsagh Tic aLsxsts
ptver Il shsnaton Sc suspcnssi both ~ tina nsiars a
the trust and by TIE contingent remainder IN q
unborn ebidfen. vei The susfsnsoa from esusf cs.ss
cat ~ &c Fos'sty eeataas Logger than ds~tgass4
life IN being ana therefore not contrary H. tbs sAtss
Seoona 1Aat trust ~ receive rents and pron,A asA
Apply thsm 10 The psymant Of aebs may be SATISFIED ~
ale a t'c pfenies for term u years taking skss
stels fen 10 advance aud asehag ng ihs debit abd that
sush sGls u not c1ntrsy " III kist1e Third. that
an application " rents ssd prohta, ~ ssy ~ irass V
the use u mans tauy 4 APPLICATION ~ them 70
bis ufe, and confined ~ the pcriad ~ his hs, and
living drAgnats indsiaa. ts nsi contrary TIM s~ssts
Fourtb, thai " tlia not - sad tho
10 10 considered eseassey t@t 81 The sifc and chill
dregi a. u Vas cny IA event Too thets lives aaA
eou not poe IDLY lat longer sa The LIE ~ ursf sts~s.
which Hsht ~ sharief psfiaS "a moi afy stss
Eiatuio iifih, hat soy u iise trusts ~ ,slb&sl
- tfD certainly csIngt ~ alAyyie5ths dead bs
rot VOID. single soo trust Is Sufficient - sassis a.
decree should - entered sltor 10 dlssniss Ne k
declare tie LEGAL ~ the lssIF sbDse stated