Legal Opinion
In re the Accounting of Miller
New York Surrogate's Court
Decided March 28, 1951PublishedCited by 6 opinions
1Opinion of the Court
Wright, S.
In this accounting proceeding the Bankers Trust Company, as surviving trustee, seeks determination as to its powers of investment in the light of the present statute prescribing trust investments.
Although the testator’s death occurred in 1915, if the will were silent as to investment powers, there would be no question that the trustee’s present powers are those now prescribed by section 21 of the Personal Property Law. It seems to be the accepted doctrine that the obligations of trustees with respect to investments are fixed by the law effective at the time the investment is made.…
2Cases cited5 opinions
- People Ex Rel. Otsego County Bank v. Board of Supervisors of Otsego CountyNew York Court of Appeals · 1873
- In re the Estate of HamersleyNew York Surrogate's Court · 1934
- City Bank Farmers Trust Co. v. EvansAppellate Division of the Supreme Court of the State of New York · 1938
- In re the Accounting of HilliardNew York Surrogate's Court · 1950
- In re ArmsNew York Supreme Court · 1948
3Cited by6 opinions
- In re the Accounting of City Bank Farmers Trust Co.New York Surrogate's Court · 1955
- In re the Accounting of New York Trust Co.New York Surrogate's Court · 1952
- In re the Construction of the Will of TaylorNew York Surrogate's Court · 1957
- In re the Accounting of Kings County Trust Co.New York Surrogate's Court · 1957
- In re the Accounting of City Bank Farmers Trust Co.New York Supreme Court · 1958
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