IN RE MUNGER


63 N.J. 514 (1973)

309 A.2d 205

IN THE MATTER OF THE ESTATE OF CLARENCE A. MUNGER, DECEASED.

The Supreme Court of New Jersey.

Argued January 9, 1973

Decided September 5, 1973.


Attorney(s) appearing for the Case

Mr. Thomas J. Bitar argued the cause for appellant William S. Keown, succeeding executor and trustee (Messrs. Jeffers and Dillon, attorneys; Mr. Bitar, of counsel and on the brief).

Mr. Peter E. Driscoll argued the cause for respondents beneficiaries (Messrs. Brown, Connery, Kulp, Wille, Purnell & Greene, attorneys for respondent C. Edwin Munger, life tenant; Mr. George Purnell, of counsel; Mr. John Henry Reiners, Jr., attorney for respondents George A. Munger and Carol Laycock Munger, contingent remaindermen; Messrs. Archer, Greiner & Read, attorneys for respondent F. Morse Archer, Jr., guardian ad litem for unborn and unascertained remaindermen; Mr. Lee M. Hymerling, on the brief).


The opinion of the Court was delivered by HALL, J.

The sole issue on this appeal is whether the trustee under the will of the decedent was empowered to invest in real estate by reason of a will clause authorizing investment of the trust corpus "in such securities as may, in the judgment and discretion of my said Trustee, seem proper, whether or not such securities shall be of the type prescribed by law for the investment of trust funds * * *." (Emphasis...

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