Legal Opinion
In re the Final Accounting of Duffy
New York Surrogate's Court
Decided September 8, 2009PublishedCited by 1 opinion
1Opinion of the Court
OPINION OF THE COURT
Edmund A. Calvaruso, S.
Holding
Objectant, Gilbert Stone, seeks to surcharge executor Michael Duffy for losses incurred by the estate during the post-September 11, 2001 stock market decline. The court holds that the executor made a prima facie showing that the estate’s investment plan was in compliance with the Prudent Investor Act, and objectant failed to meet his burden to show both that the investments were imprudent and that the losses experienced by the estate were due to any negligence on behalf of the executor.
Background
Decedent died on July 19, 2001, survived by her…
2Cases cited18 opinions
- In re Accounting of Lincoln Rochester Trust Co.New York Court of Appeals · 1974
- In Re the Accounting of Fulton Trust Co.New York Court of Appeals · 1931
- MTR. OF STORTECKY v. MazzoneNew York Court of Appeals · 1995
- In re the Estate of SchnareAppellate Division of the Supreme Court of the State of New York · 1993
- Cohen v. RyanAppellate Division of the Supreme Court of the State of New York · 1970
13 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- In re the Judicial Settlement of DuffyAppellate Division of the Supreme Court of the State of New York · 2010