In the Matter of the Accounting of Elliott L. Brown, as Executor of J. Romaine Brown, Deceased. Central Union Trust…

Summary

The Court held that the written declarations of trust made by J. Romaine Brown, although not delivered to the beneficiary, created a valid trust of the MacCombs Road and Rockwood Street properties in favor of Elliott L. Brown. Accordingly, the proceeds from the sale of those properties belong to Elliott, not to the Nod‑A‑Way Company. The Court affirmed the lower court's findings that the bank stock was a valid gift to Elliott and that the $17,000 special check was not a gift. The appellate order was modified with respect to the real‑property accounting and the matter remitted to the Surrogate’s Court.