The Procedure and Law of Surrogates' Courts of the State of New York Volume 1 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 Excerpt: ...or personal for the benefit of another, such trustee, or executor, before receiving any such property into his possession or control shall, unless contrary to the express terms of the will, execute to the people of the state of New York, in the usual form, a bond-with sufficient surety or sureties in an amount to be fixed by the surrogate. Upon any judicial settlement and partial distribution of such estate or fund the decree may provide for the discharge of the existing bond, and the filing of a new bond covering the amount still remaining in the hands of such executor or trustee. This section shall not affect any executor or trustee named in a will executed before September first, 1914. 169, Sur. Ct. A. Former 2639, Code Civ. Pro. Security from a testamentary trustee. Security is now required from all trustees, unless contrary to the express terms of the will, or unless the will was executed before September 1, 1914, when such requirement went into effect. But any trustee who has not been required to give a bond may still be compelled to do so, in a case where an executor could be so required. Bond by trustee named in a will executed before September 1, 1914. Section 171 does not limit the specific provisions of 169, and therefore a trustee named in a will executed before Sept. 1, 1914, need not give a bond. In re Michel, 160 N. Y. Supp. 520. Bond on grant of letters testamentary. On probate of a will a decree was made that letters issue to wife who had the use of the real and personal estate upon giving a bond for the value of both real and personal. Decree was reversed oil that point. In re Ughetta, 176 App. Div. 651, 163 N. Y. Supp. 565. Where the will provided that the executors should give a bond, but specified no conditions or f...