Appeal from the Circuit Court of Cook County; the Hon. SAMUEL
B. EPSTEIN, Judge, presiding. Reversed and remanded.
MR. PRESIDING JUSTICE STAMOS DELIVERED THE OPINION OF THE COURT.
Rehearing denied October 5, 1970.
Plaintiffs, as assignees of a vested remainderman under the testamentary trust created by the will of Kathryn Breault, appeal from the Circuit Court's dismissal of their suit for an accounting and appointment of a receiver.
Plaintiffs are two of three grandchildren of Kathryn Breault, deceased, and children of Oscar J. Breault by his second wife Florence. Kathryn died August 3, 1952, leaving a Last Will and Testament devising the residuary property to Harold Feigenholtz and Richard Dahm, as trustees, for the benefit of her son Oscar Breault during his lifetime. The pertinent provisions of the will provide:
"SIXTH: Payments to all beneficiaries of the trust estate, excepting minors and persons under disability, shall be made to such beneficiaries in person or upon their personal receipt and to no-one else and no interest of any beneficiary shall be assignable in anticipation of payment nor be liable in any way for such beneficiaries debts or obligations.
"During the minority of any beneficiary, the Trustees may pay such income in any of the following ways:
"(a) Directly to said minor;
"(b) To the legal guardian of said minor;
"(c) To a relative of said minor to be expended by such relative for the support, maintenance and education of said minor; and
"(d) By the Trustees themselves expending the sum directly for the education and maintenance of said minor.
"TENTH: The Trust Estate shall be distributed both as to income and principal, in the following manner:
"(A) The Trustees shall pay over and distribute to my son, OSCAR J. BREAULT, all of the net income from the Trust Estate in installments not less frequently than quarter annually from the time of my death and as long as he shall live.
"(B) I hereby direct and provide that no part of the income from the trust estate, and no part of the corpus of said trust estate hereinbefore created for the benefit of my son, OSCAR J. BREAULT, shall ever be liable in any way for any debts that my said son may at any time contract, or for any debts that he may have contracted, and shall never be liable for any other claim of any kind against him.
"(C) If at any time, for the proper support and maintenance of my said son, or for any other purpose deemed expedient to my said Trustees, it shall be advisable to pay unto said OSCAR J. BREAULT, any sums greater than the annual net income derived from my said Estate so held for the benefit of my said son, then I direct my said Trustees, to pay such sums unto said OSCAR J. BREAULT, and in order to raise additional sums, I direct and empower my said Trustees, in their ...