At issue in this proceeding is the right of the trustees of the estate of the donor of a power of appointment to commissions for paying out the appointive property to trustees appointed under the will of the donee of such power.
Testator Mr. S died in 1952. His will admitted to probate in this Court created out of his residuary estate a marital deduction trust for his wife Mrs. S–one coupled with a general testamentary power of appointment. For later discussion, it is observed that under such a power Mrs. S could appoint to her estate or to her creditors or to creditors of her estate or to any other person she may wish. Under the express terms of the will she could also appoint outright or in further trust.
Mrs. S died on June 11, 1969, a resident of Connecticut. Her will has been admitted to probate in the Connecticut courts. By her will she expressly exercised her power of appointment. She first directed her own trustees to pay out of the appointive property all estate taxes on both the appointive property and her own estate assets. She then directed her Own trustees to divide the remaining principal of the appointive property into four shares, each such share to be held in further trust for her four grandchildren with remainder over to her great grandchildren. There are ten such great grandchildren remaindermen represented in this proceeding by a guardian ad litem. Mrs. S appointed as her own trustees the same persons who were already acting as trustees under Mr. S’s will.