POSTPONED GIFTS – “If the gift is postponed in possession after a life estate, the class will not close under the rule of convenience until the time for taking possession.” (until one member of the class is entitled to the possession; to wit, on the death of the life tenant and any other condition precedent is satisfied so that someone is entitled to possession).
1. EXCEPTION – gifts of income: if trust pays income to A for life, then income to children of B, no need to close the class at death of A because the class closes for the gift of income periodically as income is accrued.
2. Example – testator executes will in 1975 leaving BA to my sister A for life, then to the children of B. In 1975 B has two kids, C & D. In 1977 B has E. Testator dies in 1979, and in 1981 B has F. A dies in 1983. In 1985 B has G. Who owns BA?
C, D, E, & F. The class closes when the first member is entitled to their share. Because this is a postponed gift, when A dies.
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