In Re the Accounting of Tracy
New York Court of Appeals
Appeal from an order of the Appellate Division of the ,, Supreme Court in the fourth judicial department, entered September 29,1903, which affirmed a decree of the Onondaga County Surrogate’s Court settling the accounts of the executors and trustees herein. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the ,, Supreme Court in the fourth judicial department, entered September 29,1903, which affirmed a decree of the Onondaga County Surrogate’s Court settling the accounts of the executors and trustees herein. The facts, so far as material, are stated in the opinion. The state transfer tax assessed upon the life estates under said will should he charged against and paid out of the principal of the trust funds respectively, and not out of the income passing to the beneficiaries. (Matter of Hoyt, 44 Misc. Rep. 75; Matter of Vanderbilt, 172 N. Y.…
1Opinion of the CourtBartlett, J.
The executors and trustees under the last will and testament of George N. Kennedy, deceased, attack the decree of the Surrogate’s Court of Onondaga county, entered upon the judicial settlement of their accounts, in three particulars, to-wit:(1) Wherein it adjudges that the taxes on life estates, created by the will, assessed under the State Transfer Tax Law and the United States War Revenue Tax Law, should be deducted from the income and rents, to which each of said life tenants were respectively entitled, before any part of the same should be paid to them.(2) Wherein it is adjudged that out…
2Cases cited3 opinions
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of VanderbiltNew York Court of Appeals · 1902
- In Re the Estate of RooseveltNew York Court of Appeals · 1894
- Clarke v. . ClarkeNew York Court of Appeals · 1895
3Cited by35 opinions
- Vanderbilt v. EidmanSupreme Court of the United States · 1905
- In re the Will of BlumenthalNew York Surrogate's Court · 1943
- In re the Estate of StarrNew York Surrogate's Court · 1935
- In Re the Transfer Tax Upon the Estate of TerryNew York Court of Appeals · 1916
- In re the Final account of the of DiehlNew Jersey Superior Court Appellate Division · 1917
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