In re the Accounting of Canfield
In the Matter of the Accounting of George F. Canfield Et Al., as Trustees Under the Will of Margaret T. Schley, Deceased, Respondents. James M. Schley, Jr., Appellant; Montfort S. Variell Et Al., Respondents
In re the Accounting of Canfield, 121 N.E. 858 (N.Y. 1918)
Summary
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered December 28, 1917, which affirmed a decree of the New York County Surrogate’s Court settling the accounts of the trustees under the will of Margaret T. Schley, deceased. Among the assets of testatrix was a deferred dividend policy of life insurance on the life of her husband, which he had duly assigned to her. Said policy having reached the end of its distribution period after the death of testatrix, the insurance company paid the amount of the deferred dividends to her trustees who credited the amount to principal. The appellant contended that the amount should be distributed as income. The surrogate overruled such contention.
Syllabus and headnotes are prepared by the reporter or publisher, not the court, and are not part of the opinion.
Opinion of the Court
Order affirmed, with costs; no opinion.
Concur: His cook, Ch. J., Chase, Collin, Cuddeback, Hogan, McLaughlin and Crane, JJ.
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