Legal Opinion
In re the Construction of the Will of Flagg
Appellate Division of the Supreme Court of the State of New York
Decided May 16, 1949Published
1Opinion of the Court
In our opinion the executors and trustees may retain investments not eligible by law for the investment of trust funds, which were received by them pursuant to the terms of the will, providing they exercise due care and prudence in the retention and disposition of them and should not be summarily directed not to retain such investments. (Decedent Estate Law, § 111, subd. 6; Matter of Wotton, 59 App. Div. 584, 587, affd. 167 N. Y. 629; Matter of Clark, 257 N. Y. 132, 136; Matter of McCafferty, 147 Misc. 179, 205; Matter of Baker, 249 App. Div. 265, 267.) Present — Nolan, P. J., Johnston,…
2Cases cited6 opinions
- In Re the Accounting of Fulton Trust Co.New York Court of Appeals · 1931
- In re the Estate of McCaffertyNew York Surrogate's Court · 1933
- In Re the Judicial Settlement of the Account of WottonNew York Court of Appeals · 1901
- In re the Judicial Settlement in the Estate of BakerAppellate Division of the Supreme Court of the State of New York · 1936
- In re the Judicial Settlement of the Accounts of WottonAppellate Division of the Supreme Court of the State of New York · 1901
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