Louis Brandeis

“ The reason why no further or complete distribution of the residuary estate was made by the executors prior to July 1, 1902, was that they anticipated that the estate would be liable for payment of a New York estate transfer tax and the federal inheritance tax, for attorneys' fees, and other expenses of administration, and that the exact amount of the residuary estate left for distribution could therefore not be definitely determined prior to July 1, 1902. ”

“ The testator died on December 14, 1900. His will was duly probated, and the executors qualified on March 28, 1901. There were some specific legacies, a residuary bequest which gave the bulk of the estate to three stepdaughters free from any trust, and a provision that all legacy or inheritance taxes should be paid out of the residue. ”

“ Under the laws of New York, the time for the presentation of claims against the estate had expired before July 1, 1902, and before that date the legatees were entitled to the full payment of their legacies. ”