Valley Bank v. Neuhoff

OPINION

E. L. Cord died testate on January 2, 1974. By his will, he left five million dollars to trust estates previously established for the benefit of his children, grandchildren and daughter-in-law. Payment in cash, securities, or a combination of these was permitted, and no interest was to be paid on the bequest. The will further provided for the continuation of Mr. Cord’s businesses, with their profits and losses charged to his estate. By decrees of distribution dated September 28, 1976 and November 19, 1976, respectively, the bequest was distributed to the trust estates. No appeal was…