In re Marine Trust Co.

128 Misc. 553, 220 N.Y.S. 188, 1926 N.Y. Misc. LEXIS 1112
CourtNew York Surrogate's Court
DecidedDecember 24, 1926
StatusPublished

This text of 128 Misc. 553 (In re Marine Trust Co.) is published on Counsel Stack Legal Research, covering New York Surrogate's Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In re Marine Trust Co., 128 Misc. 553, 220 N.Y.S. 188, 1926 N.Y. Misc. LEXIS 1112 (N.Y. Super. Ct. 1926).

Opinion

Cone, S.

Adelaide R. Kenny died on or about the 4th day of February, 1905, leaving her last will and testament, dated January 28, 1904, which was duly admitted to probate before the Surrogate’s Court of the county of Genesee on May 9, 1905, and letters testamentary duly issued to the Hon. Safford A. North, as executor.

On May 17,1906, the executor of said estate duly filed his account, and on the 30th day of July, 1906, a decree of final settlement of the accounts of said executor was had before the Surrogate’s Court of the county of Genesee, and on this accounting it appears that all persons interested were either cited, or waived notice of citation, and the decree of final settlement was entered in said office on the 30th day of July, 1906, and is recorded in liber 2 of Miscellaneous Records, page 132.

By the 19th clause of said decree, the residue therein specified, subject to certain additions and conditions, was set' apart in trust to be held by the executor and kept invested in proper securities, and to pay the income derived therefrom to Adelaide K. Richmond during the term of her natural life.

That on or about the 4th day of November, 1912, Adelaide K. [556]*556Richmond by marriage became Adelaide Richmond Thomas; that the said Adelaide Richmond Thomas died in the city of Batavia, N. Y., on the 26th day of December, 1925; that Adelaide Richmond Thomas left her surviving no children; that Watts Lansing Richmond survived the said Adelaide Richmond Thomas.

On the 27th day of February, 1926, the Marine Trust Company of Buffalo, now acting trustee under the will of Adelaide R. Kenny, filed a petition and its account in the Surrogate’s Court of Genesee county relative to the trust fund under its control, of which the said Adelaide R. Thomas had a life úse, and asked for a settlement of their accounts as trustee, and for a construction as to the 5th clause and 33d clause of the will of said Adelaide R. Kenny, as to the disposition of said trust fund of which the said Adelaide R. Thomas had the use during her life.

The will of said Adelaide R. Kenny provided by the 5th clause that her niece Adelaide Kenny Richmond should have the use of the Richmond homestead situated in the city of Batavia, N. Y., for life, with certain other conditions and restrictions as to the upkeep of the same. The 33d clause bequeathed the residue of her estate in trust to the said Adelaide K. Richmond during her lifetime, with the disposition of the residue after her death.

The said Adelaide Kenny Richmond upon the probate of the will of said decedent, settlement of accounts of said executor, and entering of decree of final settlement, entered into the enjoyment and benefits of the provisions of the will, and so continued until her death on- December 26, 1925.

The 5th clause of said will is first presented for consideration, and so far as material herein, provides as follows:

“ Fifth. To my niece Adelaide Kenny Richmond, daughter of my brother, W. Eugene Richmond, I give and devise the use during her life of the real estate in the village of Batavia, New York devised to me by the will of my mother, Mary E. Richmond. * * * My said niece shall have the right to dispose of said real estate and of all of such personal property by will to any child of hers, or in case she fails to dispose of the same by will, said property both real and personal shall upon the decease of my said niece go absolutely to her oldest daughter who may survive her, or if she leaves no daughter then to her oldest son, and in case she leaves no child surviving then such property real and personal, and the whole thereof, shall go absolutely to my nephew, Watts Lansing Richmond,, if living at the time of the decease of my said niece. * * * It is my earnest wish that said residence property may continue as long as possible in the ownership and control of the descendants of my brother, W. Eugene Richmond, [557]*557and I request all persons who may hereafter be entitled to dispose of the same by law or otherwise to see to it that my wish as now expressed, may be carried out * * *. Upon and after the decease of my said niece, in case she shall leave a child who under the terms of this will shall become the owner of said real estate, I direct my executor to take over that portion of my residuary estate not held in trust for any life prior to that of my said niece the sum of One hundred thousand dollars and pay over and distribute the same in the manner hereinafter in this article in this will provided; but in case under the provisions of this article of my will the title to said real estate shall pass to Watts Lansing Richmond, my executors shall set apart, hold and retain said sum of One hundred thousand dollars, investing the same in good securities, and pay the income derived therefrom to the said Watts Lansing Richmond, during his lifetime, to the end that he may have sufficient income to maintain himself suitably in his said residence in Batavia. Should he fail to keep the buildings and premises in suitable condition, and the taxes and insurance paid, then my executors shall attend thereto out of such income; and then, after the decease of my said nephew, or upon the decease of my said niece in case she shall leave a child or children surviving her, the said sum of One hundred thousand dollars shall be disposed of as follows: ”

By this clause the decedent provided that Adelaide R. Thomas should have the life use of the Richmond home at Batavia, N. Y., and she was using and occupying the same at the time of her death. The fact that she died, leaving her surviving no children, Watts L. Richmond, a nephew of testatrix having survived the said Adelaide R. Thomas, became entitled to possession and absolute owner in fee simple of said Richmond home on East Main street, Batavia, N. Y., upon the death of said Adelaide Richmond Thomas.

This clause also imposed an earnest wish that said homestead continue under the control of the descendants of the testatrix's brother, W. Eugene Richmond, but there was nothing therein contained to prohibit disposing of said premises by Watts L. Richmond. This clause further provided in the event that said homestead shall pass to Watts Lansing Richmond, that the trustees of said estate shall set apart and hold the sum of One hundred thousand dollars and pay the income therefrom to Watts Lansing Richmond during his life time, to the end that he may have sufficient income to maintain himself suitably in said Richmond homestead.”

It is obvious that the testatrix created a valid trust in favor of Watts L. Richmond, and the clear instruction to pay to him the income therefrom during his lifetime. There is, however, a [558]*558certain charge in the use of said income as to the upkeep of the premises. .This can only be interpreted as a limitation so long as the property was owned by Watts L. Richmond.

There is nothing in this clause to prevent a sale or disposing of the premises by the owner, and should this event occur, the limitation upon the income would cease. That apparently was the intention of the testatrix, as the income from said trust does not continue to pass, should the title to said premises be vested in other lineal descendants of W. Eugene Richmond.

In this clause there are no other words of conditional limitation upon said trust fund except as herein expressed and no condition precedent to the enjoyment of said trust that Watts L.

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Bluebook (online)
128 Misc. 553, 220 N.Y.S. 188, 1926 N.Y. Misc. LEXIS 1112, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-marine-trust-co-nysurct-1926.