Page:Federal Reporter, 1st Series, Volume 4.djvu/150

136 FEDERAL P.BPOETEB. �Spindlb V. Shbevb and others. �(Circuit Oourt, Jf. B. JUinoi». , 1880.) �L Trost — Childeen — Ckeditors. — The owner of property has the right to provide that Ms estate may be held in such a way that Ms cMldren may reçoive the renta and profits of it during their lives, so as not to go to the beneflt of creditors, if they should be improvldent or unfor- tunate. liicMs V. Baton, 91 U. 8. 716. �2. Same— 8ame — Samb. — ^In such case it îs not necessary that a wiD should declare in terms that the property is to be held free from cred- itors, where such latent is sufflcieutly manifest from the language xised �Gwynn Garrett, for complainant. �Charles A. Qregory, for defendants. �Dbummond, g. J. Thomas T. Shreve, of the city of Louis- ville, Kentucky, during hia life-time, was the owner of some real estate situated in Chicago, and made his will, under ■which the question in this case arises. At the time of his death he left several children, and for them he made this provision in his ■will : "As soon after my death as it can be conveniently done, I wish my executer, after first setting apart a fund sufficient to pay the above-named special devises and incidental expenses, to make out a fuU and complete list and Bchedule of ail my estate, of every character and description, real, personal, and mixed, in the state of Kentucky and else- where, and hand the same to the foUowing-named persons, to-wit, James W. Henning, A. G. Badger, and A. Harrip, who, or any two of them, I desire to proceed to value it and divide it into five equal shares, upon the prineiples hereinbefore indi- cated. One-half of each share (which half I wish to be ineome- paying real estate) I desire to be set apart and conveyed to a trustee, to be held for the use and benefit of each child during his or her life, and then descend to his or her heirs, without any power or right on the part of said child to encumber said estate, or anticipate the rents thereof. But said trustee shall collect said rents, and, after paying taxes, Insurance, and keeping the property in repair, pay the rent to the child in ����