In re the Accounting of McCloskey

New York Supreme Court

In re the Accounting of McCloskey

9 Misc. 2d 654, 168 N.Y.S.2d 326, 1957 N.Y. Misc. LEXIS 2368

DecidedOctober 15, 1957

StatusPublished

This text of 9 Misc. 2d 654 (In re the Accounting of McCloskey) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re the Accounting of McCloskey, 9 Misc. 2d 654, 168 N.Y.S.2d 326, 1957 N.Y. Misc. LEXIS 2368 (N.Y. Super. Ct. 1957).

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Opinion

Arthur G. Klein, J.

This is a motion to judicially settle and allow the intermediate account of the trustees. In their petition the trustees seek also a construction of the provisions in the amendment of the trust indenture which added a new paragraph 17 to the trust deed. By this paragraph the trustees are directed to pay from the principal of the trust to the legal representative of the settlor’s estate the sums certified by such representative as the equitable proportion, chargeable to the trust, of any and all estate, transfer, inheritance or other similar taxes due as a result of the death of the grantor. The amendment in question clearly evidences the settlor’s intention that the trust be liable for the payment of its proportionate share of the estate taxes and such intention should be given effect. Such construction is accordingly adopted and the trustees are [655]*655directed to pay over to the executrix from the principal such sum as shall be certified in accordance with the provisions of paragraph 17 as added to the trust deed. The account is allowed and settled as presented.

Settle order.

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Arthur G. Klein, J.

This is a motion to judicially settle and allow the intermediate account of the trustees. In their petition the trustees seek also a construction of the provisions in the amendment of the trust indenture which added a new paragraph 17 to the trust deed. By this paragraph the trustees are directed to pay from the principal of the trust to the legal representative of the settlor’s estate the sums certified by such representative as the equitable proportion, chargeable to the trust, of any and all estate, transfer, inheritance or other similar taxes due as a result of the death of the grantor. The amendment in question clearly evidences the settlor’s intention that the trust be liable for the payment of its proportionate share of the estate taxes and such intention should be given effect. Such construction is accordingly adopted and the trustees are [655]*655directed to pay over to the executrix from the principal such sum as shall be certified in accordance with the provisions of paragraph 17 as added to the trust deed. The account is allowed and settled as presented.

Settle order.

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Bluebook (online)

9 Misc. 2d 654, 168 N.Y.S.2d 326, 1957 N.Y. Misc. LEXIS 2368, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-accounting-of-mccloskey-nysupct-1957.