Legal Opinion
In re the Estate of Wood
Appellate Division of the Supreme Court of the State of New York
Decided March 23, 1992PublishedCited by 8 opinions
1Opinion of the Court
OPINION OF THE COURT
Ritter, J.
Chase Lincoln First Bank’s decision to liquidate the entire stock and bond portfolio of the Wood family trust was made immediately after the sole remainderman notified the bank of the death of his father, the income beneficiary. According to the will which established the trust, upon the death of the income beneficiary, the trustee was directed to "give the *163principal of the fund” to the remainderman. Despite this directive, and without contacting the remainderman to learn his wishes, a wholesale liquidation of the trust portfolio was accomplished within a week.…
2Cases cited5 opinions
- In re the Estate of RothkoNew York Court of Appeals · 1977
- Mercury Bay Boating Club Inc. v. San Diego Yacht ClubNew York Court of Appeals · 1990
- In re SpitzmullerAppellate Division of the Supreme Court of the State of New York · 1951
- In re SpitzmullerNew York Court of Appeals · 1952
- In re Bulova Fund, Inc.Appellate Division of the Supreme Court of the State of New York · 1968
3Cited by8 opinions
- In re the Estate of JanesAppellate Division of the Supreme Court of the State of New York · 1996
- Caldwell v. Hanes (In Re Hanes)United States Bankruptcy Court, E.D. Virginia · 1997
- In re the Estate of WinstonNew York Surrogate's Court · 1995
- Brown v. BrownAppellate Division of the Supreme Court of the State of New York · 1997
- Cygnus Opportunity Fund, LLC v. Washington Prime Group, LLCCourt of Chancery of Delaware · 2023
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