Central Union Trust Company of New York, as Trustee, Respondent v. Rufus J. Trimble, as Ancillary Executors…

Summary

The New York Court of Appeals reversed the Appellate Division's judgment and held that surplus income from a trust, where the settlor died before the primary beneficiary, passes to the person presumptively entitled to the next eventual estate under New York law. The Court emphasized that a trust deed must be construed based on its express terms and that statutes fill gaps where the settlor provided no direction.