In re the Estate of Shubert

S. Samuel Di Falco, S.

The three surviving trustees and the estate of a deceased trustee have submitted their first intermediate account which covers the period from December 5, 1967 to January 4, 1971. Decedent died on December 25, 1953. The trust is to run for the lives of eight persons named in the will as trustees or substitute trustees. Four of them are still living. The income beneficiary of the trust is Sam S. Shubert Foundation, Inc., a Delaware corporation which was organized exclusively for charitable purposes and has been determined to be a tax-exempt organization. It is also the…