MATTER OF SABOL


20 Misc.2d 112 (1959)

In the Matter of the Construction of the Trust between Louise N. Sabol, as Donor, and Irving Trust Company, as Trustee.

Supreme Court, Special Term, New York County.

September 15, 1959.


Attorney(s) appearing for the Case

William West Ulman for petitioner.

Hays, St. John, Abramson & Heilbron (Milton Sargoy of counsel), for Irving Trust Company, trustee.


HENRY EPSTEIN, J.

In this proceeding the Irving Trust Company as trustee seeks a construction of paragraph Second of the trust indenture, designed to advise said trustee whether it has the power to invade the principal for the benefit of donor-beneficiary. The trust was created by the donor, with herself as life beneficiary, on March 7, 1935. The trust securities have declined in value from some $99,000 to about $87,000. The trustee is vested with a discretion...

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