Heyn

The question before the Court is whether the interest annually due under four insurance policies upon the life of the insured, Leo L. Heyn, shall be paid to Mary Theresa Heyn, and Michael Heyn, children of the insured, claimants herein, or to the Fayette National Bank and Trust Company, as Trustee (hereinafter called “Bank”), a claimant herein.

Briefs and written argument have been filed and counsel have stipulated that the matter may be submitted upon' the pleadings, exhibits, and the following' stipulated statement of facts, and the Court has so ordered.

Statement of Facts.

On November 18, 1940, Leo L. Heyn made a declaration of trust (Bank Exhibit 3) wherein he stated he desired to create a trust for his two children; that at the time of the declaration, he was depositing 500 shares of stock and that it was his intention to add to said trust from time to time in stocks, monies and real estate. It was further stated:

The Declaration further stated that the trust should be irrevocable, and for the time being would be administered by himself; it was further stated:

The Declaration further provided that the income should be invested for his children, and should be divided…