J. Van Vechten Olcott, as Executors of Theodore F. Vail, Deceased, Respondents v. William D. Baldwin…

Summary

The Court held that the executors' duties and the trustees' duties under the will were distinct, allowing separate commissions for each role, but that trustees who paid the full income to the beneficiary without claiming commissions waived their right to commissions on that income; it also clarified the evidence needed to prove transfer of the trust fund and how unspecified commission payments should be applied.