TAIT v. PECK


346 Mass. 521 (1963)

194 N.E.2d 707

LETITIA M. TAIT vs. MILDRED TAIT PECK & others.

Supreme Judicial Court of Massachusetts, Hampden.

December 4, 1963.


Attorney(s) appearing for the Case

John I. Robinson for the petitioner.

Milton J. Donovan for the respondents Mildred Tait Peck & others.

Warren Motley & Ansel B. Chaplin for The Investment Company Institute, amicus curiae, submitted a brief.

Present: SPALDING, WHITTEMORE, CUTTER, & REARDON, JJ.


CUTTER, J.

Letitia M. Tait (the widow) seeks a declaratory decree with respect to an inter vivos trust (the trust) executed in 1935 by her late husband (the settlor). She asks the court to determine whether a certain distribution of capital gains to the trust, made by Broad Street Investing Corporation (Broad Street) in December, 1961, is to be treated as principal or income of the trust. The widow, life beneficiary of the trust, asserts that the capital gains distribution...

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