815. Successive interests under modern law.

Successive interests in personal chattels may be created by will, with or without the interposition of trustees1. The precise nature of interests so created is uncertain2, but it would seem that the modern tendency has been to regard the first holder as having the absolute property, subject to an executory interest of a contingent character3 in the ultimate donee, and to a fiduciary duty to preserve the property for him4.

A specific bequest for life of the use and enjoyment of consumables is a gift of the absolute interest in the property, and a gift over after that life estate