Caughy v. Safe Deposit & Trust Co.

The question presented in this case is whether the estate of Adelaide Caughy, who died January 8, 1949, is entitled to the sum of $8,674.52 out of the balance of some $25,000 held by the trustee under the will of Frank J. Caughy.

Mr. Caughy died in 1930, leaving a will executed in 1927 which bequeathed to the Trust Company as trustee, “a sufficient portion of my estate * * * to produce the net income of one thousand dollars ($1,000) over and above all expenses, to be held by it, in trust, to pay out of the net income therefrom the sum of one thousand dollars ($1,000) in equal monthly…