111 N.Y.S. 192 | N.Y. App. Div. | 1908
The plaintiff is the substituted trustee of a trust created under the last will and testament of William Henry Shelden, deceased, which terminated by the death of Marie Antoinette Shelden, the widow of the decedent, on the 11th day of February, 1907. Plaintiff thereafter duly filed a final account, which has been approved by all parties in interest, and it holds a balance of the principal of the trust fund to which conflicting claims are made by the defendant William H. A. Shelden, who is a grandnephew of the testator, and by the defendant Lucye M. P. King, individually, as next of kin of the widow and as administratrix of the estate of the widow of the testator and of his daughter, Jane Maria. After making certain specific legacies, the testator gave to his executors all of the rest of his estate in trust for certain purposes therein mentioned, which will be stated presently. He directed them to convert his estate into cash and to invest the proceeds in bonds and mortgages, and to expend the income arising from $10,000 thereof for the maintenance and education of his daughter, and to pay the balance of the income to his widow until his daughter should attain her majority, and in the event of the death of his widow before the daughter should attain her majority, he directed that such balance of income should be invested for the benefit of the daughter and paid to her when she became twenty-one years of age. In the event that his widow should be living when his daughter became of age, he directed the payment of one-half of the entire income of the trust fund to each of them during the life of the widow, and upon her death that the whole of such income be paid to the daughter during her life. He also expressly provided that in case his daughter should die before her mother, then the mother should receive the entire income during her life, “ and at her death such income shall revert to the estate.” The only provision contained in the will with respect to the disposition of the principal of the trust fund is a clause giving the same to the children of the daughter of the testator, “ should she have any, to be paid to them after the
Ingraham, McLaughlin, Houghton and Scott, JJ., concurred.
Judgment ordered for defendant King as stated in opinion, with costs. Settle order on notice.
See 2 R. S. 96, § 75, subd. 1.—[Rep.
See 1 R. S. 740, § 1; Id 751, § 1 et seq.— [Rep.