Boston Safe Deposit & Trust Co. v. Boon

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

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Nature of the Case

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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.