Tolles v. Wood
New York Court of Appeals
Appeal from a judgment. Samuel Tolies, a judgment creditor of W. Stannard Wood, brought this action against said Wood individually and as a trustee with and Edward Wood his co-defendant, and William Jay added as co-trustee by supplemental summons and complaint, under the will of Silas Wood.
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Appeal from a judgment. Samuel Tolies, a judgment creditor of W. Stannard Wood, brought this action against said Wood individually and as a trustee with and Edward Wood his co-defendant, and William Jay added as co-trustee by supplemental summons and complaint, under the will of Silas Wood. His complaint alleged that he had a judgment against the former for $970.60, on which execution had been returned unsatisfied; that the will gave a residue of real and personal estate to the defendants in trust to divide into several parts, and the income of one part pay to the defendant W. S. Wood, &c.,…
1Opinion of the Court
Ruger, Ch. J.
No serious dispute arose on the argument over the main question of law involved in the controversy, and the following propositions may therefore be assumed as established for all the purposes of this discussion:
1st. When a trust has been created by one person for the benefit of another, which provides for the payment of the income of the trust fund to the beneficiary, a judgment creditor of the beneficiary is entitled to maintain an action in equity to reach and recover the surplus income beyond what is necessary for the suitable support and maintenance of the cestui que trust…
Also in this document: Concurrence.
2Cases cited52 opinions
- Hawley v. JamesCourt for the Trial of Impeachments and Correction of Errors · 1836
- Ferguson v. . HubbellNew York Court of Appeals · 1884
- Hadden v. SpaderCourt for the Trial of Impeachments and Correction of Errors · 1822
- Williams v. . ThornNew York Court of Appeals · 1877
- Jones v. GreenSupreme Court of the United States · 1864
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3Cited by15 opinions
- Bergmann v. . LordNew York Court of Appeals · 1909
- In re BaudouineDistrict Court, S.D. New York · 1899
- In re the Estate of LynchNew York Surrogate's Court · 1934
- Demuth v. KempAppellate Division of the Supreme Court of the State of New York · 1913
- Bunnell v. GardnerAppellate Division of the Supreme Court of the State of New York · 1896
10 more not listed; retrieve them via the Exa API.