MATTER OF SIMMONS


30 Misc.2d 1022 (1961)

In the Matter of The Estate of Beatrice V. Simmons, Deceased.

Surrogate's Court, New York County.

August 24, 1961


Attorney(s) appearing for the Case

Barr, Robbins & Palmer for United States Trust Company of New York, as trustee, petitioner. Ferdinand Pecora, as special guardian for Bryan De F. Sheedy and others, infants, respondent.


S. SAMUEL DI FALCO, S.

The special guardian, who represents infants having interests only in the principal of the trust, raises a question of the proper allocation of certain taxes paid on capital gains. The will directs that all dividends paid in the stock of the corporation which declared them shall be income and shall be distributed as such. The trustee received one stock dividend of 100%, and duly transferred that dividend to the income beneficiary...

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