In the Matter of the Judicial Settlement of the Account of Benjamin Albertson, as Executors

Summary

The New York Court of Appeals affirmed the lower court's judgment, holding that the trustees must satisfy the taxes, interest, and maintenance expenses of the widow's farm from the trust's income, not from its capital. The Court reasoned that the will's language did not unmistakably direct a depletion of the corpus, and established that impairing a trust's capital requires clear, unequivocal language.