Old Colony Trust Co. v. Smith

This is an appeal from a decree allowing an account of a trustee under a will. The testator directed the payment of his debts and other charges, bequeathed numerous legacies, and by article ten gave “the rest, residue and remainder” of his estate to the accountant in trust for investment and reinvestment, for collection and payment of “the income from said fund” as there specified, and for final distribution of the principal of the trust. The single point at issue between the parties relates to the proper disposition of $1,800.27. That amount represents the income derived from the funds used…