In re the Estate of Eidlitz

S. Samuel Di Falco, S.

This is a proceeding for the settlement of the final account of the surviving trustee of the residuary trust. At issue is the allocation, as between a group of charities and three individuals who share the remainder in varying proportions, of the capital gains tax incurred and paid by the trustee upon the increase in the value of securities disposed of at sales which took place both prior and subsequent to the termination of the life estate upon which the remainders were limited. It is the position of the charitable remaindermen that the tax burden must be borne in its…