In re the Estate of Bendheim

Foley, S.

The issues raised in this contested accounting proceeding are disposed of as follows:(1) A construction of the will is requested in order to determine whether the trustees are required to amortize the premiums paid on investments so as to preserve the principal fund intact or whether the full income from such securities may be paid to the life beneficiaries without amortization.

The will provides: “ I authorize and empower my executors, in the investing and reinvesting of any part of my estate, to pay in their discretion premiums on bonds or other securities which they may purchase,…