“without bond and without liability for waste,” she is still obligated by the terms of the will to provide insurance, maintenance and repairs, and to pay all taxes, utilities, and similar charges that accrue during her occupancy of the apartment. Based on the will’s plain language, I cannot conclude that Hewitt intended to give Mrs. Colwell the power to consume the corpus of the estate or to convert the asset to cash prior to her death. Mrs. Colwell should therefore not be permitted to receive any part of the corpus of the property — in other words, she is not entitled to the proceeds from the sale of the apartment. The only interest that Mrs. Colwell may properly retain is in the income received from the proceeds of the sale, through the Colwell-Hewitt Unitrust. Cf. Felice, supra (<HOLDING>). Through the terms of the will, the residuary
holding that where the will did not provide the life tenant with the power to sell and it was not necessary to sell the property for the payment of estate expenses the life tenant was not entitled to the proceeds from the sale of the property instead the proceeds became a part of the residuary estate holding that the proceeds of a liability insurance policy were not property of the estate holding that where the policy names only the directors or officers as insured the proceeds are not property of the estate holding that because proceeds of a letter of credit were not secured by estate collateral the proceeds were not property of the estate holding the real estate sale proceeds