In Re LaTour Estate

The principal issue in this case is whether capital gains distributions from regulated investment companies, commonly called mutual funds, are to be accounted for as income or principal in probate and trust accounting. We write on a clean slate since there is no statute or decision in this state which provides an answer. The issue comes to us as a certification of questions of law from the probate court of Sullivan county (Shaw, J. ) pursuant to the provisions of RSA 547:30. In re Peterson Estate, 104 N. H. 508, 190 A. 2d 418.

The will of the testatrix, Jean M. LaTour, which was allowed in…