Matter of Sacchi

2 Citing cases

  1. Matter of Willoughby

    49 A.D.2d 945 (N.Y. App. Div. 1975)   Cited 2 times

    Here the testatrix made it quite clear that until the 10-year life of the trust elapsed the designated beneficiaries were to receive all the income from the corpus and that all rights of the trust remaindermen, other than Fuller Dickson Willoughby, were to be postponed until that time. If we do not so construe the will, the testatrix' purpose in creating the 10-year trust would be negated, because the remaindermen of the trust (other than Fuller) would receive some of the income from the corpus of the trust prior to the expiration of the trust term. Here, as in Matter of Sacchi ( 36 A.D.2d 597, 598), the procedure for which the successor trustee sought approval from the Surrogate was "the correct one in pursuance of the decedent's manifested testamentary scheme". Here, as in Sacchi, it appears that "the will is complete, that there is no `income not disposed of', and that it is unnecessary to look to `the next eventual estate' (ยง 9-2.3)."

  2. Matter of Hopkins

    119 Misc. 2d 218 (N.Y. Misc. 1983)   Cited 5 times

    Where discretion is vested in the trustee to apply income, the retention of part of the income by him does not constitute a void accumulation. Any unexpended income remains the property of the income beneficiary ( Bloodgood v Lewis, 209 N.Y. 95; Hamilton v Drogo, 241 N.Y. 401; Matter of Post, 145 Misc. 794). By following the line of cases which presumes an intent on the part of the testator to make only valid dispositions, the court construes the will so that there is no "income not disposed of", making it unnecessary to identify the next eventual estate ( Matter of Sacchi, 36 A.D.2d 597; compare Matter of Willoughby, 49 A.D.2d 945). In view of the foregoing, the income presently in the hands of the trustees continues to be property of the income beneficiary and at her death passes by will or intestacy ( Matter of Watson, 262 N.Y. 284; EPTL 11-2.1; Matter of Outerbridge, 91 Misc.2d 686).