MATTER OF OTTMANN


197 Misc. 645 (1949)

In the Matter of the Accounting of Carol S. Ottmann et al., as Executors of William Ottmann, Jr., Deceased.

Surrogate's Court, New York County.

December 30, 1949.


Attorney(s) appearing for the Case

Ehrich, Royall, Wheeler & Holland for executors, petitioners.

Edgar H. A. Chapman, special guardian for Michael E. Ottmann, an infant, respondent.

Ilo Orleans, special guardian for Thomas B. Clarke and others, infants, respondents.


COLLINS, S.

In this accounting proceeding there is presented the question whether under a proper construction of decedent's will and the applicable rules of law the testamentary trustees are required to make reservations from the trust income to offset depreciation of the improvements on real properties held in the trust. The prevailing view in this State is that a trustee is not permitted to charge depreciation...

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