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FOURTEENTH AND PARTIAL ACCOUNT EMILY W. REED (05/12/76)

decided: May 12, 1976.

IN RE FOURTEENTH AND PARTIAL ACCOUNT OF EMILY W. REED, TRUSTEE FOR AMY DUPUY MCHENRY, ET AL., UNDER DEED OF TRUST DECLARED BY HERBERT DUPUY ON JUNE 15, 1917, SUPPLEMENTED BY AGREEMENT OF COMPROMISE DATED MAY 25, 1938. APPEAL OF JOHN DUPUY


COUNSEL

John M. Kish, Kish & Kish, Pittsburgh, for appellant.

Evans Rose, Jr., Melvin M. Cox, Michael J. Baughman, Pittsburgh, for appellee.

Jones, C. J., and Eagen, O'Brien, Roberts, Pomeroy, Nix and Manderino, JJ.

Author: Jones

[ 467 Pa. Page 373]

OPINION OF THE COURT

This is an appeal from the Decree of the Orphans' Court of Allegheny County allowing compensation to the estate of Emily W. Reed, deceased, in the amount of $175,000.*fn1 The issue presented for our consideration is whether a deceased trustee is entitled to receive payment from the principal of a trust for her services in the administration and conservation of that trust in addition to compensation already received from the trust income under the provisions of the will appointing her as trustee.

The facts giving rise to this controversy are as follows. In 1917, Herbert DuPuy established a trust for his granddaughter, Amy DuPuy McHenry. Under the Declaration of Trust, Herbert DuPuy served as trustee until his death in 1930. By the terms of his will, he

[ 467 Pa. Page 374]

    named Emily W. Reed as his successor trustee, a position she accepted and filled from 1930 until her own death on February 27, 1974.

Article Fourteen of the will of Herbert DuPuy, providing for the appointment of Emily W. Reed as successor trustee, stated in pertinent part:

"I hereby appoint in my place and stead my Secretary, Emily W. Reed, (who since the inception of these Trusts has been familiar with all the details of their management) as my successor in each and all of said Trusts, with all the powers, and subject to all the duties incident to said Trusts, with the condition, however, that in investing any surplus income, she shall seek the advice of the Farmers' Deposit National Bank, of Pittsburgh, and, furthermore, that Douglas G. Sisterson shall assist her in all possible ways.

As compensation for the handling of said trusts, the sum of Four Thousand Dollars ($4,000.00) per annum shall be paid to said Trustee, with an additional sum of Three Thousand Dollars ($3,000.00) per annum to Douglas G. Sisterson, said compensation to be equitably charged against the several trusts.

In case of the inability or refusal of Emily W. Reed to act or to continue as such Trustee, whether occasioned by refusal to accept, death, resignation or otherwise, I appoint the PEOPLES-PITTSBURGH TRUST COMPANY, of Pittsburgh, Pa., to fill the vacancy, with the same rights and powers as are vested in the ...


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