Matter of Union Trust Co. (Hoffman Estate)
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered October 1, 1915, which affirmed a decree of the Kings County Surrogate’s Court overruling the objections of the contestants to the account of the Union Trust Company of Hew York, as trustee of the several trusts created in and by the last will of Charles F. Hoffman, deceased. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the second judicial department, entered October 1, 1915, which affirmed a decree of the Kings County Surrogate’s Court overruling the objections of the contestants to the account of the Union Trust Company of Hew York, as trustee of the several trusts created in and by the last will of Charles F. Hoffman, deceased. The facts, so far as material, are stated in the opinion. It is fundamental law governing the action of trustees that a trust fund shall not he invested in connection, or admixed, with any other fund. (Doud v.…
1Opinion of the CourtChase, J.
The last will of Charles E. Hoffman created several trusts and named the respondent, the Union Trust Company of New York, the trustee thereof. The appellants have a reversionary interest in the principal of said trusts and they have filed objections to the form and manner in which certain of the trust investments have been made.
The trust investments to which objections are made by the appellants herein are investments previously made upon bonds and mortgages taken in the name of the trust company. It has been the practice of the trust company to use the money of several trusts held by it as…
2Cases cited1 opinion
- Barry v. . LambertNew York Court of Appeals · 1885
3Cited by45 opinions
- In Re the Accounting of Title Guarantee & Trust Co.New York Court of Appeals · 1943
- Guthrie's EstateSupreme Court of Pennsylvania · 1935
- First Nat. Bank of Birmingham v. BashamSupreme Court of Alabama · 1939
- In Re the Accounting of StupackNew York Court of Appeals · 1937
- Yost's EstateSupreme Court of Pennsylvania · 1934
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