Cunningham Estate

Cunningham Estate

Klein, P. J.,

This litigation is just another episode in the interminable conflict between income beneficiaries and remaindermen over the distribution of the earnings of trust estates.

Edith B. Cunningham, testatrix, died in 1933. She provided in her will for payment of income to designated individuals for life, with remainders over to other beneficiaries upon the termination of the trust.

In 1939 Fidelity-Philadelphia Trust Company, the trustee, purchased 100 shares of General Electric Company no par common stock, and later, in 1951, an additional 50 shares were purchased. The…