Clark v. Beers
Supreme Court of Connecticut
Suit by the plaintiff as administrator with the will annexed of Isaac Beers, for the construction of certain provisions in the will; brought to the Superior Court in Fairfield County, and reserved for the advice of this court. No question of general interest was involved except one with regard to the construction of Gen. Statutes, § 495, and the opinion of the court upon the rest of the case, is, by direction of the judges, omitted.
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Suit by the plaintiff as administrator with the will annexed of Isaac Beers, for the construction of certain provisions in the will; brought to the Superior Court in Fairfield County, and reserved for the advice of this court. No question of general interest was involved except one with regard to the construction of Gen. Statutes, § 495, and the opinion of the court upon the rest of the case, is, by direction of the judges, omitted. The will gave the residue of the estate to trustees for certain beneficiaries, with the following provision: — “And I hereby empower said trustees to sell any…
1Opinion of the CourtSeymour, J.
As to the power given at the close of clause seventh, to invest the proceeds arising from the sale of a part or the whole of the residue, there is nothing in the language conferring other than the ordinary rights and duties upon the trustees named therein. They must invest under the responsibilities usually attaching to trustees.
We do not construe the provisions of section 495 of the General Statutes as mandatory and as depriving trustees of all discretion as to investments. If they invest in the securities expressly allowed by the statute they will, except under very extraordinary…
2Cited by9 opinions
- Pabst v. GoodrichWisconsin Supreme Court · 1907
- Merchants Loan & Trust Co. v. Northern Trust Co.Illinois Supreme Court · 1911
- Peck v. SearleSupreme Court of Connecticut · 1933
- Beardsley v. Bridgeport Protestant Orphan AsylumSupreme Court of Connecticut · 1904
- State v. WashburnSupreme Court of Connecticut · 1896
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