In re the Estate of Newton

The will of Rollin A. Newton, in paragraph seventeenth thereof, bequeathed the sum of $75,000 to the Marine Midland Bank-Northern, as trustee, with the direction that the trustee pay over to six named beneficiaries during their lives income from different amounts of the total investment. For our purposes we need only note that beneficiary James Elliot Newton was to receive the income for life from $15,000 of the $75,000 invested. With one exception, all trust income beneficiaries were named in paragraph eighteenth of the will as residuary legatees. The will failed to designate remaindermen of…