In re the Estate of Gould

Foley, S.

This proceeding is brought for the judicial settlement of the account of the trustees. The specific trust covered by the account constituted one of the residuary trusts created for the respective lives of the six children who survived their father, Jay Gould. The life beneficiary of the trust here involved was his daughter, Mrs. Helen Gould Shepard. She died on December 21, 1938. Under the terms of the will, upon her death, the principal of the trust was directed to be paid over to her issue, with power of appointment granted to her to allocate the shares among that class. In the…