Weiss Estate

Opinion by

Mr. Justice Pomeroy,

This case requires us to consider the nature and extent of certain discretionary powers given to trustees under a testamentary trust; specifically, whether discretion given the trustees to allocate “all capital gains resulting from the sale or exchange of trust assets” to income or to principal “in accordance with applicable Law” must be exercised under the rules of the Principal *116and Income Act, July 3, 1947, P. L. 1283, as amended, 20 P.S. §3470.1 et seq., or whether that discretion can he exercised without reference to that Act. We hold the latter.

Abram H.…