Summary
In Matter of Schlegel (302 N.Y. 787, 789) the Court of Appeals quoted the Appellate Division below in the same case as follows: "Under the application to remainders of the settled rule that a residuary legatee is entitled to nothing until all the debts and other legacies are paid [ Matter of Title Guar. Trust Co., 195 N.Y. 339; Matter of Farmers' Loan Trust Co., 186 App. Div. 722, 726, 727, mod. 226 N.Y. 691], appellants are preferred over the residuary legatee, in view of the abatement of the corpus."
Summary of this case from Matter of WagenerOpinion
Argued March 1, 1951
Decided April 13, 1951
Appeal from the Supreme Court, Appellate Division, Second Department, RICHARDSON, S.
William J. O'Shea, John Godfrey Saxe and Henry J. Kennedy for appellant.
Nathaniel Rubin and Clarence J. Drake for Agnes K. Bower and others, respondents.
Decree affirmed, with costs to all parties appearing separately and filing separate briefs payable out of the estate. No opinion.
Concur: LOUGHRAN, Ch. J., CONWAY, FULD and FROESSEL, JJ.; LEWIS, DESMOND and DYE, JJ., dissent and vote for reversal in the following memorandum: When the will is read as a whole, it is clear that the testatrix intended a ratable distribution of the remainder of the Sibyl M. Bower trust among the named beneficiaries. ( Matter of Low, 232 App. Div. 414, affd. 257 N.Y. 613; Matter of Knickerbocker, 255 App. Div. 309, affd. 280 N.Y. 560.)