Boston Safe Deposit & Trust Co. v. Boone

489 N.E.3d 209 (Mass.App. 1986)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

W.T. died and established a marital deduction trust giving his widow income for life and a general power of appoint the remainder by will with a gift in default of appointment to Brown University. Pearson's attorney, who died by the time this action was brought, and Boston Safe, were cotrustees. When the Mrs. died in 1972, a codicil provided for various appointments of the trust remainder with any balance to go to her estate. Brown contested these appointments, delaying for a period during which a severe decline and a partial recovery in the stock market reduced the estate by about $100,000, so no balance was available for the executors. There was a dispute over the effect of an exculpatory clause in the will. The trial court dismissed the executor's objections to the accounting and allowed the accounts affirmed.