Legal Opinion

In re the Accounting of Forrest

New York Surrogate's Court

Decided June 7, 1961Published

1Opinion of the Court

John J. Dillon, S.

The application, of the petitioners for leave to resign as testamentary trustees is granted as requested, and the Bank of New York will be appointed successor trustee upon duly qualifying according to law.

The will is construed to mean that the successor trustee now to be appointed may invest in any investments permitted by section 21 of the Personal Property Law as the same may be amended from time to time, as well as in any investments specifically authorized by the will. It seems plain that the limitation of investments in Article ‘ ‘ eighth ’ ’ of the will to ‘ ‘ those…

2Cases cited2 opinions

  1. In re the Accounting of HilliardNew York Surrogate's Court · 1950
  2. In re the Accounting of Kings County Trust Co.New York Surrogate's Court · 1957

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