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Lautz v. Sprague

153 N.Y.S. 1124 Court N.Y. App. Div. Decision date 1915-05-12 English

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p. 1124
LAUTZ, Respondent, v. SPRAGUE, Appellent, et al.
(Supreme Court, Appellate Division, Fourth Department.
May 12, 1915.)

Headnote

Action by Amelia K. Lautz, individually, etc., against Henry Ware Sprague, as trustee, etc., impleaded with others.

Judgment affirmed, with costs to each party appearing upon this appeal by separate brief, payable out of the corpus of the fund. Held that, under testator’s will, his widow was entitled to receive from the net income of the trust estate an annuity of $12,000, and, if such income in any year should be insufficient to yield such annuity, then the trustees were authorized to temporarily borrow and take from the principal of the trust estate sufficient thereof to make up any such deficiency, subject, however, to restoration of said principal from surplus income as the same may accrue.