In re the Accounting of Marine Midland Bank-Western

This proceeding was commenced by the successor trustee to judicially settle the accounts of an inter vivos trust created by Spencer Kellogg, Sr. in 1922. Under the terms of the trust its income is to be paid equally to each of the settlor’s seven children until its termination, and in case of the death of any of the settlor’s children his or her one-seventh share of the income is to be paid "to the same persons as will receive the principal of the trust fund”. Thus the determination of who is entitled to income necessarily raises the question as to who will share in the distribution of the…