In re the Estate of Pross

Evans V. Brewster, S.

One of the cotrustees of the residuary trust for the benefit of decedent’s wife has petitioned the court for advice and directions with respect to the allocation between principal and income, of certain taxes paid by the trustees attributable to capital gains realized by the trust. Decedent’s wife, the income beneficiary and cotrustee, urges that the tax be charged to the principal of the trust. The remaindermen of the trust have been made parties but failed to appear in the proceeding.

Decedent owned a fractional interest in property known as 1855 Broadway, New York City…