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MATTER OF KNAUTH

12 N.Y.2d 259 (1963)

In the Matter of the Accounting of Oswald W. Knauth et al., as Trustees of the Trusts for the Benefit of Oliver D. Knauth, Established by Anna D. Knauth and Oswald W. Knauth. Agnes W. Martin, as Executrix of George W. Martin, Deceased, et al., Respondents; Oliver D. Knauth, Appellant.

Court of Appeals of the State of New York.

Decided February 28, 1963.

Attorney(s) appearing for the Case

Arnold Davis for appellant.

Frederick M. Schlater for Mary P. Knauth, respondent.

Ralph F. Kane, guardian ad litem for Anne W. Knauth and another, infants, respondents.

Chief Judge DESMOND and Judges DYE, BURKE, FOSTER and SCILEPPI concur with Judge FULD; Judge VAN VOORHIS dissents and votes to modify in accordance with his dissenting opinion.

FULD, J.

In 1931 Anna Knauth created an inter vivos trust for the benefit of her son Oliver. It was provided that he was to receive the entire net income from the trust for his life and that both principal and income were to be "free and clear from the control of [his] debts, liabilities and engagements". In 1938, when he was 26 years old, Oliver married Mary Pickett, and they had two daughters. In 1946...

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