Legal Opinion
In re the Judicial Settlement of the Accounts of First Trust & Deposit Co.
Appellate Division of the Supreme Court of the State of New York
Decided June 30, 1931PublishedCited by 12 opinions
1Per curiam
Notwithstanding the positive direction of the testatrix in her will that her stock in the First Trust and Deposit Company be held and divided among the trusts thereby created and not disposed of until it became necessary to do so in order to settle her estate, we do not think that the court is powerless, in a proper proceeding, to order a sale of such stock, if an emergency has arisen, or if there is a changed condition of affairs where the best interests of the beneficiaries will be promoted by such sale and the reinvestment of the proceeds in some safe and conserva*237tive security, legal for…
2Cases cited4 opinions
- In Re the Accounting of the Empire Trust Co.New York Court of Appeals · 1931
- Wood v. WoodNew York Court of Chancery · 1836
- In re the Estate of PulitzerNew York Surrogate's Court · 1931
- Toronto General Trusts Co. v. Chicago, B. & Q. R.New York Supreme Court · 1892
3Cited by12 opinions
- Seeney v. Dover Country Club Apartments, Inc.Superior Court of Delaware · 1974
- In re the Judicial Settlement of the Accounts of First Trust & Deposit Co.Appellate Division of the Supreme Court of the State of New York · 1935
- In re the Estate of CuddebackNew York Surrogate's Court · 1938
- In re the Trustees of the Estate & Property of the Diocesan ConventionNew York Surrogate's Court · 1984
- Word v. Union Bank & Trust Co.Montana Supreme Court · 1940
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