Majority
p. 989(72 Misc. Rep. 592.) In re WILLIAMSBURGH TRUST CO. (Surrogate's Court, Kings County. June, 1911.)
Headnote
Trusts (§ 316*)—Compensation of Trustee.Where a corporate trustee asked leave to resign in order ta liquidate its affairs and retire from business, no commissions on the corpus of the trust fund should be allowed.
[Ed. Note.—For other cases, see Trusts, Dec. Dig. § 316.*]
In the matter of the judicial settlement of the account of the Williamsburgh Trust Company, as substituted trustee under the will of Jeremiah Bergen, deceased. Decree rendered.
DyIceman, Oeland & ICuhn, for trustee.
Mayer Kronacher, for cestui que trust and life tenant
There should be no commissions upon the principal fund, when the trustee asks, for reasons purely personal to itself, to be relieved from the trust before its completion. In this case the trustee resigns because of its own desire to liquidate its affairs and to retire from business. Any allowance upon the corpus, which by its act is made subject to the commissions of its successor, would, to that degree, impose a double burden upon the estate.
Decreed accordingly.