401. Provisions for bankrupt's maintenance.

Settlements providing for the determination of life estates on bankruptcy often contain provisions enabling the trustees in whom the trust estate is vested to apply the income to the maintenance of the bankrupt or of the bankrupt's spouse and family. Where any interest at all remains in the bankrupt, it will pass to his creditors1; but, if the trustees have an absolute discretion as to the application of the income, no interest passes to the creditors