Bank of New York v. Black

*279The opinion of the court was delivered by

Wacheneeld, J.

As testamentary trustee under the will of William Byrd, deceased, the Bank of New York brought this action principally for the purpose of having the court determine to whom it should distribute some $334,000 in trust funds now that the trust in question has expired. Various relatives of the settlor, William Byrd, and his wife, Julia Byrd, were joined as parties-defendant.

The Chancery Division of the Superior Court decided Julia Byrd did not intend, by her last testament, to exercise the general testamentary power of appointment which she…