In re the Judicial Settlement of the Accounts of Tracy & Green
Appellate Division of the Supreme Court of the State of New York
Appeal by William G. Tracy and Grant D. Green, as executors of and trustees under the last will and testament, of George 1ST..
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Appeal by William G. Tracy and Grant D. Green, as executors of and trustees under the last will and testament, of George 1ST.. Kennedy, deceased, from so much of a decree of the ‘Surrogated Court of the county of Onondaga, entered in said Surrogate’s Court on the 5th day of January, 1903, as directs that the taxes, repairs, etc., upon the former residence of the deceased, paid by the executors -up to December 1,1902, should be charged against the income of the personal property of the deceased instead of the principal of such personal property; also from so much of said decree as directs that…
1Opinion of the Court
Spring, J. :
By his will Judge Kennedy left in trust for his adopted daughter Jessie, who was afflicted with blindness, $80,000, to be invested by *217his trustees and the income thereof paid for her maintenance and comfort during her natural life. The present value of this annuity was ascertained and the tax imposed upon it pursuant to the United States War Revenue Act (Laws of 1898, chap. 448; 30 U. S. Stat. at Large 464, § 29 et seq.) was $4,045.67 and that levied pursuant to the State Transfer Act was $525.27. The decree of the Surrogate’s Court charged these taxes upon the income of the…
2Cases cited3 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- Woodward v. . JamesNew York Court of Appeals · 1889
- Chamberlin v. . GleasonNew York Court of Appeals · 1900
3Cited by2 opinions
- In re the Estate of HoytNew York Surrogate's Court · 1904
- In re the Estate of OetingerNew York Surrogate's Court · 1943