In re the Estate of Fox

Joseph A. Cox, S,

In 1960 the testator created an inter vivos trust for the purpose of providing stated amounts of income to certain of his employees. The trust income in excess of the stated amounts was payable under the terms of the indenture to the testator. During his lifetime the testator received such surplus income and since his death there also has been excess income. In this proceeding to settle the account of the executors an issue exists as to the disposition of the excess yield following the testator’s death.

The trust indenture executed by the testator provides that the income in…