Berger v. Burnett

In this case the complainants, who are life tenants, seek a part of the $200,000 proceeds of sale of two hundred shares of common stock of Irvington Varnish and Insulator Company as income.

These shares were part of the estate of Carl Berger, who died in 1920. In his will Berger directed payment of his debts and specific devises and bequests, and then said that all the rest, residue and remainder of his estate, "including my stock, both common and preferred, in said Irvington Varnish and Insulator Company," be given to his executors and trustees in trust. He divided the corpus into two equal…