Estate of Peabody v. Lawrence College

The following opinion was filed April 30, 1935 :

Fairchild, J.

The amount of compensation for trustees’ services when the trustees, are bound to conduct a business as well as perform other duties cannot always be fixed by a percentage of income. There may be instances where compensation would be just even in the absence of income. The Peabody will gives to the trustees broad powers in the management and control of the estate intrusted to them. It places upon them the duty of carrying out plans devised by the testator in relation to the conduct of the business of the Pettibone-Peabody Company, a…