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MATTER OF WOOD

177 A.D.2d 161 (1992)

In the Matter of The Estate of Frank B. Wood, Deceased. Charles R. Wood, Jr., Appellant; Chase Lincoln First Bank, Respondent

Appellate Division of the Supreme Court of the State of New York, Second Department.

March 23, 1992

Attorney(s) appearing for the Case

McGovern, Connelly & Davidson (Frank H. Connelly, Jr., and Margaret M. Fitzpatrick of counsel), for appellant.

Seacord, Young & Young (J. Addison Young II of counsel), for respondent.

ROSENBLATT, J. P., concurs in result only.

RITTER, J.

Chase Lincoln First Bank's decision to liquidate the entire stock and bond portfolio of the Wood family trust was made immediately after the sole remainderman notified the bank of the death of his father, the income beneficiary. According to the will which established the trust, upon the death of the income beneficiary, the trustee was directed to "give the

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