In re the Estate of Ryan

Foley, S,

The sole question for determination in this accounting proceeding is the method of the allocation of the income earned by the estate assets during the period of administration. Is all the income earned upon the funds used to pay administration expenses, debts and taxes payable to the life tenants, or is it to be added as an accretion to the capital of the residuary estate? I hold that the rule laid down in Matter of Benson (96 N. Y. 499) and restated in Matter of Lord (134 Misc. 198; affd., 228 App. Div. 771) is controlling here. The established rule in our State applies not only to…