Legal Opinion
In re the Accounting of Donnelly
Appellate Division of the Supreme Court of the State of New York
Decided February 22, 1962Published
1Opinion of the CourtHalperh, J.
The question in this case is whether a stock distribution made by the Eastman Kodak Company in 1959, in the ratio of one share for each share of common stock then outstanding, should be allocated to the income of trusts created by the decedent’s will, rather than to the principal of the trusts.
The decedent’s will created various trusts and provided, with respect to them, that “ [a] 11 stock dividends received shall be considered income and distributed as such”. The testatrix died on August 6, 1956, and her will was probated shortly thereafter.
*30It appears that, from 1948 to 1956, seven stock…
2Cases cited5 opinions
- In Re the Accounting of OsborneNew York Court of Appeals · 1913
- In re the Accounting of Security Trust Co.New York Surrogate's Court · 1950
- In re the Will of LissbergerNew York Surrogate's Court · 1947
- In re Bankers Trust Co.New York Supreme Court · 1957
- In re ClarkNew York Supreme Court · 1960