Hand Estate

Opinion by

Mr. Justice Horace Stern,

Decedent, David Bishop Hand, was a physician who owned certain proprietary medicines which were manufactured and sold for him by Smith, Kline & French Company. By virtue of contracts with that company he received large annual royalties, and when he died, on April 1, 1923, he left a gross estate of more than $>1,-000,000. His financial affairs, however, were extremely complicated as his investments were of a nature requiring special attention and he was largely indebted for loans and other obligations. For this reason, in his will, dated May 7,1919, he…