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Wills, Trusts & Estates Keyed to Gallanis
Estate of Hamilton
Citation:
593 N.Y.S.2d 372 (N.Y.App. Div. 1993)Facts
On February 26, 1989 Milton W. Hamilton (decedent) died, survived by his spouse, Anita G. Hamilton (Hamilton), his daughters, respondents Mary H. McLaughlin, Gwendolyn H. Stevens, and his stepson, respondent John H. Ricketson. Paragraph fourth of decedent’s last will and testament, executed on April 5, 1982, directed that the residuary of decedent’s estate be divided into two funds, Fund A and Fund B. Fund A was a marital deduction trust and Fund B was a bequest to McLaughlin and Stevens. Paragraph fourth further provided that upon Hamilton’s death, the principal remaining in Fund A was to be “paid, transferred or distributed in such manner as Hamilton may direct and appoint; decedent specified, however, that this power of appointment was exercisable only by specific reference to said power in Hamilton’s last Will and Testament. In the event that Hamilton failed to effectively exercise the power of appointment, the assets remaining in Fund A would pass to McLaughlin and Stevens.
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6m 20s