Dickinson
Massachusetts Supreme Judicial Court
Appeal from a decree of the Probate Court, disallowing in part the account of William A. Dickinson as trustee under a deed of trust. Hearing before 0. Allen, J., who reported the case for the determination of the full court, in substance as follows.
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Appeal from a decree of the Probate Court, disallowing in part the account of William A. Dickinson as trustee under a deed of trust. Hearing before 0. Allen, J., who reported the case for the determination of the full court, in substance as follows. On July 28,1881, one Boltwood executed a deed of trust conveying certain real and personal property, which was to be kept safely invested, the income thereof to be paid to certain persons during life, and the principal to be distributed in a manner provided upon the decease of all such persons. On February 5, 1878, the trustee named in the deed of…
1Opinion of the CourtField, C. J.
The general principles which should govern a trustee in making investments, when the creator of the trust has given no specific directions concerning investments, have been repeatedly declared by this court. Harvard College v. Amory, 9 Pick. 446. Lovell v. Minot, 20 Pick. 116. Brown v. French, 125 Mass. 410. Bowker v. Pierce, 180 Mass. 262. Hunt, appellant, 141 Mass. 515.
The rule in general terms is, that a trustee must in the investment of the trust fund act with good faith and sound discretion, and must, as laid down in Harvard College v. Amory, at page 461, “ observe how men of prudence,…
2Cases cited2 opinions
- Brown v. FrenchMassachusetts Supreme Judicial Court · 1878
- HuntMassachusetts Supreme Judicial Court · 1886
3Cited by37 opinions
- In Re the Judicial Settlement of the Accounts of HallNew York Court of Appeals · 1900
- Warren v. PazoltMassachusetts Supreme Judicial Court · 1909
- New England Trust Co. v. PaineMassachusetts Supreme Judicial Court · 1945
- Ball v. HopkinsMassachusetts Supreme Judicial Court · 1929
- Lannin v. BuckleyMassachusetts Supreme Judicial Court · 1926
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