Nilon

This is an appeal by the life beneficiary of a testamentary trust from an order approving the ninth account of Croeker-Anglo National Bank, as trustee, directing the trustee to charge certain state and federal taxes against the income of the trust estate instead of against the principal. Appellant, Dorothy S. Nilón, is the daughter and sole surviving life beneficiary of certain testamentary trusts created under the will of her father, George William Starr, deceased. The respondents, the remaindermen, are the grandchild and minor great-grandchildren of the testator. The taxes in issue are: (1) capital gains taxes payable as the result of certain securities sold by the trustee; (2) state and federal fiduciary income taxes, As the parties stipulated that the gross income for the period in question, excluding income attributable to capital gains, exceeds the amount of all charges against either of the trusts, the only question before us is the proper allocation of the above mentioned taxes under the relevant language of the trusts, which is as follows: “From the gross income or from the principal of said trust estate, if said income be insufficient, said trustee shall first pay all…