In re Leggatt
New York Surrogate's Court
Motion for final decree upon final accounting- of three executors and trustees. The personal assets amounted to about $92,000, but the account embraced rents of real estate received and paid out, amounting to over $250,000. The executors and trustees claimed an allowance of three full commissions, while the beneficiaries under the will disputed their right to such commissions, for the reason—first, that the executors are only accounted as such ; and second, because the rents…
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Motion for final decree upon final accounting- of three executors and trustees. The personal assets amounted to about $92,000, but the account embraced rents of real estate received and paid out, amounting to over $250,000. The executors and trustees claimed an allowance of three full commissions, while the beneficiaries under the will disputed their right to such commissions, for the reason—first, that the executors are only accounted as such ; and second, because the rents do not constitute “personal estate,” under 3 S. 8., 101, § 71 (6 ed.).
1Opinion of the Court
The Surrogate.—It was conceded that if this were' an accounting by the executors, in their capacity as trustees, they would be entitled to the three full commissions, as claimed.
An examination of the account, proceedings and proposed decree shows that the accounting parties are called trustees, as well as executors, and they have accounted for a very large amount of rents, which, it is argued, they had nothing to do with as executors.
There may be some question whether the executors as such, if they had been ordered to account, could have been compelled to insert, in their account, the rents…
2Cited by4 opinions
- In re the Judicial Settlement of the Account of FreemanNew York Surrogate's Court · 1918
- In re BlakeneyNew York Surrogate's Court · 1889
- Smith v. BuchananNew York Surrogate's Court · 1886
- In re the judicial settlement of the account of KippNew York Surrogate's Court · 1888