In Re the Judicial Settlement of the Account of Albertson
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the second judicial department, entered upon an order made December 13, 1887, which modified the decree of the surrogate of Queens county settling the accounts of Benjamin Albertson and Garret J. Garretson, as executors and trustees of John B. De Bevoise, deceased, and affirmed it as modified. The said testator died June 5, 1878, leaving his widow, Sarah, him surviving; but no descendants.
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Appeal from judgment of the General Term of the Supreme Court in the second judicial department, entered upon an order made December 13, 1887, which modified the decree of the surrogate of Queens county settling the accounts of Benjamin Albertson and Garret J. Garretson, as executors and trustees of John B. De Bevoise, deceased, and affirmed it as modified. The said testator died June 5, 1878, leaving his widow, Sarah, him surviving; but no descendants. His widow died August 2, 1881. The fourth, or residuary clause of his will, is as follows, viz.; “ Fourth. All the rest, residue and…
1Opinion of the CourtGray, J.
To change the general rule that, as between the life tenant and the remainderman, the former is bound to pay the taxes imposed, and the interest accruing upon a mortgage, a very clear expression of such an intention on the part of the testator must be found in his will. The usual purpose of the testator in providing for a beneficial interest in a trust estate is, that the net income shall be applicable only, and that the corpus; or capital, of the trust estate shall remain intact until the trust shall have determined. The principle has been so long and firmly established that interest on…
2Cited by64 opinions
- Woodward v. . JamesNew York Court of Appeals · 1889
- Hayward v. PlantSupreme Court of Connecticut · 1923
- Stevens v. . MelcherNew York Court of Appeals · 1897
- In Re the Accounting of Brooklyn Trust Co.New York Court of Appeals · 1932
- Spencer v. . SpencerNew York Court of Appeals · 1916
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