FUTURE INTERESTS -VALIDITY OF A POWER OF APPOINTMENT UNDER THE RULE AGAINST PERPETUITIES

Testator devised the income from his residuary estate to his two daughters for life, directing the trustee, on each daughter's death, to divide her share of the trust fund among the daughter's surviving children, and to hold the shares of the granddaughters for their lives and the shares of the grandsons until they severally reached the age of thirty years. The will then provided, "And in case of the death of any one of my grandsons before attaining the age of thirty years and in case of the death of my granddaughters, I direct that my Trustee shall distribute the trust fund of the grandchild so dying in such manner as said grandchild shall by will direct . . . . " Held, that as such power may be exercised after lives in being and twenty-one years beyond, it is invalid under the rule against perpetuities. Camden Safe Deposit & Trust Co. v. Scott, (N. J. 1937) 189 A. 653.