A New Jersey appeals court ruled Wednesday that a trust set up for an heir of industrialist Cornelius Billings — founder of Union Carbide and Carbon Corp. — does not benefit a daughter the heir raised from childhood but did not adopt until she was an adult.

Halsted Vander Poel was one of three grandchildren of Billings. In 1950, his mother, Blanche Billings Vander Poel, created three identical trusts, funded by Union Carbide stock, providing income for Halstead and his two siblings during their lifetimes. Upon death, each trust’s income was to be distributed among the child’s “lawful issue.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]