Will Acceleration Apply Where There Is a Renunciation of the Prior Estate?
Shackelford, James B.
MetadataShow full item record
Examines Aberg v. First National Bank. In Aberg, Elizabeth Goodman was granted a life estate with a contingent remainder. The life estate in trust income was to terminate and disbursed the trust corpus equally upon twenty-one years from the birth of her last child or upon her death. Goodman renounced her interest in an attempt to trigger acceleration of the remainder, thus vesting the interest of her three children. While the Texas and majority view is that vested remainders may be accelerated, jurisdictions are divided as to whether or not contingent remainders may be accelerated. In the present case, the Texas Court of Appeals in Dallas held that contingent remainders could not be accelerated, choosing what the author describes as strict adherence to the specific enforcement of the settlor’s intent.