Creed v. Connelly

This is a petition filed in November, 1924, by trustees under the will of C. James Connelly for instructions as to whether they may apportion between capital and income the whole or such part of the expenses paid out of income of the trust estate for carrying certain lands, sold by them in June, 1924, as will reimburse the life tenant for the loss of income thereby caused.

The testator died July 10, 1914, without issue, leaving as his heirs his widow, a brother and two sisters. The personal estate was appraised in the trustee’s inventory at $150,000, and the real estate at $41,300. The parcel…