Case ID: ny_277/html/0650-02.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

In the Matter of the Accounting of Bankers Trust Company, as Trustee under the Will of A. Walker Otis, Deceased. Maude D. Hendrickson, Appellant and Respondent; William B. Stitt, as Special Guardian for Margaret E. Otis, an Iufant, Respondent and Appellant; Bankers Trust Company, as Trustee, Respondent.
    Submitted February 28, 1938;
    decided March 8, 1938.
   We think our opinion in Matter of Otis (276 N. Y. 101) does not imply that fiduciaries may distribute surplus income before all advances from principal are repaid. We are also of opinion that no valid distinction may be made in that regard between principal obligations ” and income obligations.”