Angell
Angell v. Petersen
Opinion
Lead Opinion
Devine, J.
—Three days before he died of cancer, Theodore Scarborough Petersen, Jr., executed his will, by which he created a trust which has led to this appeal from an order instructing the trustee. Mr. Petersen had four sons. The eldest', Gary, was provided for in part of the will which is not in issue. He had two sons, Theodore III, age 12, and Scott, age 7, by a marriage which had terminated by divorce about four years prior to the making of the will, and one son, Paul, age 3, by his second spouse.
The testator relates in his will that at the time of the divorce, a property settlement agreement had provided that he would hold a sufficient number of shares of Standard Oil Company of California stock to equal $10,000 when the two *91 sons, Theodore III and Scott, would become 19 years old. He had agreed to name them beneficiaries of certain life insurance and to hold certain bonds valued at $6,200 for them. He had agreed to pay $175 a month for each of the sons until they would become 21.
When Mr. Petersen died, he held Standard Oil stock valued at $166,425, although he had not earmarked any for himself in his capacity as “custodian.” But it appears from the terms of his will that the…