In re the Estate of McCoy

5 Mills Surr. 497, 51 Misc. 441, 101 N.Y.S. 539
CourtNew York Surrogate's Court
DecidedSeptember 15, 1906
StatusPublished
Cited by1 cases

This text of 5 Mills Surr. 497 (In re the Estate of McCoy) 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 the Estate of McCoy, 5 Mills Surr. 497, 51 Misc. 441, 101 N.Y.S. 539 (N.Y. Super. Ct. 1906).

Opinion

Davie, S.

Bethuel McCoy died May 12, 1876, leaving a will dated August 21, 1872, and a codicil thereto dated August 6, 1875; such will and codicil were admitted to probate August 6, 1876, and letters testamentary thereupon issued to Charles McCoy, the executor and testamentary trustee therein named. Testator bequeathed to his widow his household furniture, wearing apparel, $1,0(10 in money and an annuity of $560 during life; to a son, William McCoy, an annuity of $105 during life; to three grandchildren, Charles, Frank and Willie, sons of William McCoy, or to their survivor or survivors in case either died before attaining the age of twenty-one years, the sum of $1,000, share and share alike, one-half of the share of each to be paid upon arriving at the age of twenty-one and the other half at the death of their father; in case the father died before said sons arrived at full age, then each was to receive an annuity of $35 during minority.

The fifth item of the will is as follows: “ I give and bequeath to my executor hereinafter named and appointed twelve thousand five hundred dollars in trust, to keep invested at lawful interest, in bonds and mortgages, secured on unincumbered real estate situate in the State of ETew York of at least double the value of the sum or sums so to be secured thereon, exclusive of buildings thereon, for the purpose of paying the annuities and [499]*499"bequests hereinbefore made, as the same shall become due and payable and when said trust shall have been fully executed eight thousand dollars of said trust fund is to become a part of my residuary estate and the remainder thereof I give and bequeath to my said executor personally to be received by him in full payment of his services as such trustee also as executor hereinafter mentioned.”

By the sixth item of the will the executor was empowered to sell such portion of the real estate as might be necessary to provide the trust fund.

The seventh item of the will is as follows: I give, devise and bequeath all the rest, residue and remainder of my estate both real and personal as follows: To my daughter Maria E.

Saunders one-third thereof forever; to my son Charles McCoy the use, enjoyment and income of one4hird thereof, for and during the term of his natural life and at and after his decease to his two children Maggie McCoy and Mary McCoy share and share alike, forever; and the remaining third thereof to my executor in trust for the purpose of paying the income thereof to my daughter Frances D. Wilcox for and during the term of her natural life; annually; and at her decease I give, devise, and bequeath to her issue, share and share alike, such income and as each of said issue shall attain the age of twenty-one years, I give, devise and bequeath to it one equal undivided share of the principal of said remaining third and in case my said daughter Frances D. Wilcox shall die leaving no issue born of her, which shall attain the age of twenty-one years then and in that case said remaining third of said residuary estate I give, devise and bequeath to my daughter Maria E. Saunders and my son Charles McCoy share and share alike.”

The material portion of the codicil is as follows: “ I do by this my writing, which I hereby declare to be a codicil to my said last will and testament and to be taken as a part thereof, order and declare that my will is, that my said daughter Maria [500]*500E. Saunders shall during the term of her natural life have and receive only the rents, issues and profits income, use and enjoyment of said legacy and devise and upon the death of my said daughter Maria E. Saunders, I give, devise and bequeath to her children Grace A. Bapgood and Walter B. Saunders each severally thereof, the sum of two thousand dollars; in money and ■to my son-in-law ¡Nelson Saunders the remainder of the said share of my daughter Maria E. Saunders forever.”

All of the legatees named in the will 'and codicil survived the testator; the executor and trustee, from time to time, made intermediate accountings of his proceedings as such. On the 10th day of October, 1898, a decree was made by the Surrogate’s Court judicially settling the trustee’s accounts to that date; 'by the terms of this decree, he was charged with the sum of $9,-118.17, the amount of the trust fund, as determined by the last preceding decree and with the income derived therefrom and was credited with various expenses of administration as well as with the net income paid by him to Mrs. Wilcox, the beneficiary. Shortly thereafter, Charles McCoy, the trustee, died, leaving a will which was admitted to probate and the executrix of his will thereupon procured a judicial settlement of his accounts from the date of the decree last mentioned to the time of hisi death; and Prances D. Wilcox was then appointed his successor as testamentary trustee, and the trust estate turned over to her. She continued in the administration of the estate to the date of her death, January 6, 1906., She left no issue and never had any who attained the age of twenty-one years. The executor of her will now presents an account of her proceedings as such trustee for judicial settlement, charging her with the corpus of the trust estate, she having retained in her own right as beneficiary the income therefrom.

The controversy in this case relates to the validity of the attempted beneficial provisions for the possible issue of Mrs. Wilcox and the effect of their invalidity upon the other provisions [501]*501of the will and codicil. The question is: Did decedent die intestate as to the one-third of the residue of the trust fund,, leaving the same for distribution among the next of kin or did it pass to the residuary legatees in the manner and proportions defined by the will and codicil ?

The provisions of the will for the benefit of the issue of Mrs. Wilcox are clearly invalid. Section 2- of the Personal Property Law provides: The absolute ownership of personal property shall not be suspended by any limitation or condition, for a longer period than during the continuance and until the termination of not more than two lives in being at the date of the instrument containing such limitation or condition; or if such instrument be a will, for not more than two lives in being at the death of the testator; in other respects, limitations of future or contingent interests in personal property are subject to the rules prescribed in relation to future estates in real estate.”

The provisions of the will referred to are clearly in contravention of the prohibition of the statute quoted. Schlereth v. Schlereth, 173 N. Y. 444.

It is substantially conceded, however, that the beneficial provisions of the will in favor of Mrs. Wilcox herself are valid; in fact, the question of their legality was directly passed upon by the Surrogate’s Court upon the various intermediate accountings; and the decrees then made, all parties interested having been duly cited, are res adjudicata on that subject, but the status of the other residuary bequests remains to be determined.

The testamentary intentions of the decedent are unmistakable. He designed and intended, first, to give to Mrs. Wilcox the income during life of this trust fund, and, second, in case of the death of Mrs. Wilcox without issue attaining the age of twenty-one years, to give to Charles McCoy one-half of such fund, absolutely, and the income of the other half to Maria E. Saunders during life and, at her death, the principal absolutely to Grace A. Hapgood, Walter B. Saunders and Kelson Saunders;

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Related

In re the Estate of Hurley
149 Misc. 68 (New York Surrogate's Court, 1933)

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Bluebook (online)
5 Mills Surr. 497, 51 Misc. 441, 101 N.Y.S. 539, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-estate-of-mccoy-nysurct-1906.