In the matter of the transfer inheritance tax assessment in the estate of Anthony Nazzaro, deceased.
McGeehan, Jayne, and Wm. J. Brennan, Jr. The opinion of the court was delivered by Jayne, J.A.D.
One Domenico Antonio Nazzaro, more generally known as Anthony Nazzaro, a resident of Little Falls, in the County of Passaic, died testate on June 1, 1949, at the age of 68 years. He was survived by a widow, sons, daughters and grandchildren, and also by a former wife from whom he was divorced on April 28, 1933. The decree of divorce embodied provisions by way of alimony for the former wife's support and maintenance.
On April 8, 1941, the decedent executed a trust indenture which contains the following introductory recitals:
"WHEREAS, certain orders heretofore entered in the Court of Chancery of New Jersey on the 28th day of April, 1933, and the 23rd day of April, 1938, provide for the payment of alimony by the party of the second part to the party of the first part, and provide for security for the payment of the said alimony as more fully set forth in said orders; and
WHEREAS, it was agreed that the said orders be modified in accordance with the terms and provisions of a proposed order about to be entered in the Court of Chancery of New Jersey, a copy of which order is annexed hereto and made a part hereof;
NOW, THEREFORE, for and in consideration of the sum of One ($1.00) Dollar, and other good and valuable consideration, and pursuant to the provisions of the order hereinabove described, the parties hereto do hereby agree as follows."
The parties to the agreement were the decedent and his divorced wife, Eugenia DeGise Nazzaro. A quotation of certain selected paragraphs of the agreement will exhibit the characteristics of the trust which are of present pertinency:
"First: The party of the second part agrees to make payment to the party of the first part of the sum of Five Hundred fifty ($550.00) Dollars per month, payable on or before the 10th day of each and every month, commencing with the 10th day of April, 1941, as provided in said proposed order.
Second: The parties hereto do hereby agree to carry out the terms and provisions of said proposed order and of this agreement, which makes said proposed order a part hereof.
Fourth: It is understood and agreed by and between the parties hereto, that the said Domenico Antonio Nazzaro and the Trustees appointed pursuant to an agreement dated April 23, 1938, shall transfer and convey to the said Eugenia DeGise Nazzaro, in fee simple, the property known as the 'Anthony Nazzaro Homestead,' at No. 478 Doremus Avenue, in the Borough of Glen Rock, in the County of Bergen and State of New Jersey; and that the said Domenico Antonio Nazzaro shall transfer all, his right, title and interest in and to the household furniture, fixtures and personal property in and about the said premises above described to the said Eugenia DeGise Nazzaro, her heirs, executors, administrators and assigns.
Fifth: It is understood and agreed that in the event of the death of the said Domenico Antonio Nazzaro, the said Trustees or the survivor or survivors of them, shall pay to Eugenia DeGise Nazzaro, out of the said trust, as aforesaid, ...