In re the Appointment of a Successor Trustee of the Trust under the Will of Phipps

Edward L’E Phipps died in December of 1947. In his will, he made a number of bequests, created a trust of certain real property in the City of Mount Vernon and left his residuary estate to his wife Coralie. More specifically, by Paragraph Fourteenth, he gave and devised to his “ Executors and (or) Trustees hereinafter named, in trust,” the Mount Vernon property “ to keep and manage * * * and to receive the rents * * * therefrom, and * * * to pay the net income thereof to the use ” of his wife for life; upon her death, the trustees were directed to pay such income to his brothers, William and…