Irwin Union Bank & Trust Co. v. Long
160 Ind. App. 509, 312 N.E.2d 908 (1974)
Nature Of The Case
This section contains the nature of the case and procedural background.
Facts
Long (P) obtained a judgment against her ex-husband in a divorce decree. To satisfy the judgment, she sought to execute on funds in a trust set up for her ex-husband by his mother. The trust instrument gave the husband the right to withdraw up to 4% of the principal of the trust in any given year. The lower court held that this amount of the trust principal was not exempt from execution, and ordered a writ of execution. The trustee (D) appeals. On appeal, the court found that the right to elect to withdraw principal was a general power of appointment.
Issues
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Holding & Decision
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Legal Analysis
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