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New York County, Surrogate's Court: July 7, 2023

Decision & Orders and Decree & Orders signed:July 3, 2023

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Decision & Orders signed between: June 3, 2023 Surrogate Mella

ESTATE OF PATRICIA GROSSMAN, Deceased (17-2528/D/E) — Incident to their accounting proceeding, the petitioning Executors have asked for permission to distribute outright to decedent’s spouse the assets that would otherwise pass to a testamentary trust for his benefit. Petitioners allege that the trust is too small to be economical. All of the interested parties have consented to the requested relief. Decedent’s will directs that the residuary estate be used, first, to fund a credit shelter trust, and that the balance be apportioned between two additional trusts, known as “Marital Trust No. 1″ and “Marital Trust No. 2.” Marital Trust No. 1 was to consist of decedent’s unused generation-skipping trust exemption with the rest of the residuary passing to Marital Trust No. 2. Based on the figures in the accounting, the court agrees that the size of Marital Trust No. 1 would make its administration economically impracticable. The circumstances here comply with all of the requirements of EPTL 7-1.19 for termination of the trust, were it to be funded, and for outright distribution to decedent’s husband, the sole income beneficiary. Petitioners have also been granted letters of trusteeship, and it would serve no purpose to require funding of the trust before it is terminated. Accordingly, the request for permission to distribute outright to decedent’s spouse the value of the assets that would otherwise pass to Marital Trust No. 1 is granted. Settle decree on accounting. Dated: July 3, 2023

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