In re the Construction of the Will of Sampson

Collins, S.

The accounting executors ask a construction of the will and a determination that the cash dividends of certain corporations specified in the petition are income within the meaning of the second paragraph which creates a trust for the benefit of the sister of the testator. The petitioners contend that the securities do not constitute wasting assets and that no apportionment between principal and income is required. The court holds that whether or not the securities could be regarded as wasting assets, the testator nevertheless intended that the income beneficiary was to receive the…