Westcott v. Nickerson
Massachusetts Supreme Judicial Court
Bill in equity by the trustee under the will of Stephen Westcott, to obtain the instructions* of the court. The case was heard on the bill and answers by Wells, J., and reserved for the consideration of the full court, and was in substance as follows The testator, by his will, dated July 26, 1869, bequeathed to the plaintiff the residue of his property, in trust “ to safely and prudently invest the same, and to pay over the income and inter est thereof,” in equal parts, to…
Read the full summary
Bill in equity by the trustee under the will of Stephen Westcott, to obtain the instructions* of the court. The case was heard on the bill and answers by Wells, J., and reserved for the consideration of the full court, and was in substance as follows The testator, by his will, dated July 26, 1869, bequeathed to the plaintiff the residue of his property, in trust “ to safely and prudently invest the same, and to pay over the income and inter est thereof,” in equal parts, to his children for life, payments to be made quarter yearly, and the remainder in fee to his grandchildren on their coming…
1Opinion of the CourtGray, C. J.
Where a testator bequeaths the residue of his personal property, without specific description or other words inlicating an intention that it shall be enjoyed in specie, first to a tenant for life, and then to a remainderman, and thus manifests *412Ms purpose that the same fund shall be successively enjoyed by both, the necessary inference and the established rule are that it must be invested as a permanent fund, and the value thereof fixed at the time when the right of the first taker begins, that is to say, at the death of the testator. And where, as in the present case, the property is then…
2Cases cited2 opinions
- Sargent v. SargentMassachusetts Supreme Judicial Court · 1869
- Spear v. TinkhamNew York Court of Chancery · 1847
3Cited by12 opinions
- Lawrence v. . LittlefieldNew York Court of Appeals · 1915
- Plunkett v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1941
- Edwards v. EdwardsMassachusetts Supreme Judicial Court · 1903
- Gaede v. CarrollSupreme Court of New Jersey · 1933
- Ball v. HopkinsMassachusetts Supreme Judicial Court · 1929
7 more not listed; retrieve them via the Exa API.