When a trust has given the surviving spouse an unlimited right to withdraw principal and a later amendment gives the spouse the right to withdraw the greater of $5,000 or 5% of the trust principal, the amendment demonstrates the intention … Continue reading
Tag Archives: Ambiguity
Executor filed an account valuing two closely held companies by its market value, which means a willing seller to a willing buyer; objectors, two of four residuary beneficiaries, claimed that the shareholder agreement specified a pro rata valuation, meaning dividing … Continue reading
Brother of decedent was bequeathed the “Maujer rifle”, which is a typographical error for Mauser rifle of which the decedent owned 10. The Court held that the brother was entitled to all 10 Mauser rifles because of the wills ambiguity … Continue reading