MATTER OF LIFGREN


36 A.D.3d 1042 (2007)

827 N.Y.S.2d 753

In the Matter of the Trusts Made by BETH H. LIFGREN and Another. WILBER NATIONAL BANK, as Trustee of the Trusts Made by BETH H. LIFGREN and Another, Respondent; TERRY D. LIFGREN, Respondent, and SHERYLE LIFGREN CHARITY et al., Appellants. (And Another Related Proceeding.)

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

Decided January 11, 2007.


Cardona, P.J.

This appeal involves a challenge to the release and informal accounting of the estate of Derwood K. Lifgren (hereinafter decedent) and the qualified terminable interest property trust (hereinafter QTIP trust) created under his will. Decedent executed a will in 1993 which directed that his shares of Astrocom Electronics, Inc. stock, a closely held company of which decedent was chair and sole stockholder, be transferred at the time of his death to a trust...

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