The will of the late Louis Marshall, who died on September 11 at Zurich, Switzerland, was deposited with the clerk in Surrogate’s Court. The value of the estate was not given, but it was estimated that it might reach $5,000,000. The will was filed without a petition, and was not offered for probate, as James Marshall, his son, believes there may have been a later will. The instrument found yesterday was dated March 19, 1921, and it was indicated that a search was under way for a subsequent document.
The will produced yesterday leaves the greater part of Mr. Marshall’s estate to his daughter, Mrs. Ruth Marshall Billikopf, of Philadelphia, and his sons, James, Robert and George. Mrs. Billikopf receives a life income from one-quarter of the residuary estate, the principal of that share passing to her children upon her death. The sons each receive the interest from one-quarter of the residuary estate until they reach the age of thirty, when they are to receive half the principal, the other half to be paid at thirty-five. Four grandchildren receive $10,000 each.
Mr. Marshall provided that one-tenth of his personal estate was to be divided into twenty equal parts, to be placed in trust in various proportions for several institutions. The largest of the institutional trust beneficiaries is the Jewish Theological Seminary, which is to receive the income from ten parts. The Jewish Protectory and Aid Society and the Jewish Welfare Board will receive the income from one part each, and the remaining seven parts are to be placed in trust for the following: Mount Sinai Hospital, Beth Israel Hospital, Montefiore Home for Chronic Invalids, Hebrew Sheltering Guardian Society, Marshall Memorial Home, Syracuse; Jewish Orphan Asylum of Western New York, Jewish Publication Society, Hebrew Union College and Syracuse University.
Mr. Marshall provided that the income for Syracuse University, of which he was a graduate and a trustee, was to be used for the library of the institution’s law school.
Mr. Marshall’s wife died in 1916, but in the will Mr. Marshall expressed sentiments revealing the happy family life he enjoyed with his children and also a sacred memory of the home that he had shared with Mrs. Marshall. He gave his executors and trustees full power to sell or lease his real estate, adding: “I earnestly recommend, however, that so long as any of my children shall remain unmarried and shall desire to live in my present residence, at 47 East Seventy-second Street, which has been endeared to me by the memory of my beloved wife; who made it an abode of happiness, such property shall not be sold.”
Should either of his children desire at any time to purchase the residence, (Continued on Page 4)
Mr. Marshall provided that such child must receive the consent of the other children and the one buying the property shall not be required to pay for it an amount exceeding its assessed valuation.
Mr. Marshall also asked his sons and daughter not to part with his summer home, known as Knollwood. “As to this property,” he said, “I also recommend that my interest in the corporation known as Knollwood shall not be disposed of, but shall continue to be held by my children, it being my wish that they make Knollwood their summer home and foster the spirit of unity and harmony which has always prevailed in my family.”
James Marshall receives, besides a share in the residuary estate, the private law library of Mr. Marshall and the latter’s interest in the law library of Guggenheimer, Untermyer and Marshall, of which his father was a member and with which he is associated. The testator, in making this bequest used the phrase “my son having to my great satisfaction, adopted the profession of law.”
All books other than the law library, also paintings, other art objects and household furniture are to be divided equally among the three sons and the daughter.
Other bequests were to Edward M. Neary, “my faithful secretary, in recognition of his faithful services,” $2,500; Marshall Weil, nephew, $5,000, and three nieces, Edna Solomon, Madeleine Marshall and Helen Marshall, $5,000 each. A similar bequest is left to Beatrice Magnes.
Mr. Marshall named his sons, James and Robert, as executors and trustees.