In re the Accounting of Taylor

Millard, S.

In this accounting proceeding objection has been made to the exclusion from the account of moneys amounting to $1,566.58, which sum is alleged to be an asset of the estate.

The petitioners defend the exclusion of such item from the account on the ground that said funds represent the corpus and unexpended income of an inter vivos trust established by the decedent. Under an agreement in writing, made between the testatrix and Philip E, Donlin on December 17, .1941, the sum of $1,500 was transferred to said Donlin as trustee, which sum was directed to be deposited in a savings bank.…