PRITCHARD v. FIRST-CITIZENS BANK & TRUST CO.

No. 7726SC685.

248 S.E.2d 467 (1978)

38 N.C. App. 489

Hazel H. PRITCHARD v. FIRST-CITIZENS BANK AND TRUST COMPANY, a Banking Corporation, John G. Pritchard, T. W. Pritchard, Jr., and Sara P. Herndon, Executors under the Last Will and Testament of T. W. Pritchard, and John G. Pritchard, Individually as Legatee under the Will of T. W. Pritchard.

Court of Appeals of North Carolina.

November 7, 1978.


Attorney(s) appearing for the Case

Francis O. Clarkson, Jr., and William B. Webb, Jr., Charlotte, for petitioner-appellee.

F. T. Miller, Jr., and James W. Allison, Charlotte, for defendant-appellant.


PARKER, Judge.

G.S. 30-31 provides that the total value of all allowances for year's support allotted under the procedure provided for in Part 3 of Article 4 of G.S. Chapter 30 "shall not in any case exceed the one half of the average annual net income of the deceased for three years next preceding his death." The question presented by this appeal is whether the words "net income" in this context mean income remaining after deducting Federal and State income taxes...

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