Legal Opinion
In re the Accounting of Walker
New York Surrogate's Court
Decided December 30, 1942PublishedCited by 1 opinion
1Opinion of the Court
Delehanty, S.
On this accounting leave is granted to the sole acting trustee to resign. The substituted trustee desired by the parties will be appointed in his stead. The court holds that the provisions of paragraph tenth of the will confer a personal discretion exercisable only by the individual trustees originally appointed by the deceased; and holds that such discretion may not be exercised by the successor trustee so far as it relates to the payment of any portion of the principal of the trust to the income beneficiary. (Benedict v. Dunning, 110 App. Div. 303; Jones v. Dodge, 69 Misc. 126;…
2Cases cited5 opinions
- Security Co. v. SnowSupreme Court of Connecticut · 1898
- Whitaker v. McDowellSupreme Court of Connecticut · 1909
- Benedict v. DunningAppellate Division of the Supreme Court of the State of New York · 1905
- Jones v. DodgeNew York Supreme Court · 1910
- Safe Deposit & Trust Co. v. EllisCourt of Appeals of Maryland · 1920
3Cited by1 opinion
- In re the Accounting of WalkerAppellate Division of the Supreme Court of the State of New York · 1943