Walton v. Gairdner
Supreme Court of Georgia
Petition for direction. Before Judge Brinson. Richmond superior court. ' October term, 1899. The will of Margaret W. Gould, after bequeathing various pecuniary legacies, empowered the executors to sell any part of her estate hot specifically bequeathed, ánd provided that “they may . . pay general legacies in monejq or in stocks or bonds, as cash, at their fair market value.”
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Petition for direction. Before Judge Brinson. Richmond superior court. ' October term, 1899. The will of Margaret W. Gould, after bequeathing various pecuniary legacies, empowered the executors to sell any part of her estate hot specifically bequeathed, ánd provided that “they may . . pay general legacies in monejq or in stocks or bonds, as cash, at their fair market value.” The executors having discharged some of these legacies by turning over stocks and bonds to the legatees, the sole surviving executor filed a petition for direction as to whether the executors were entitled to have, as…
1Opinion of the CourtCobb, J.
1. When a will containing a large number of general legacies provides that the executors may “pay general legacies in money, or in stocks or bonds, as cash, at their fair market value,” what compensation is allowed' by law- to the executors when they elect to pay general legacies in stocks or bonds? “At common law the rule is well settled, both in the courts of equity and in the courts of law, that an executor or an administrator is not entitled to any compensation for his personal trouble and loss of time in the performance of his duties.” 11 Am. & Eng. Eric. L. (2d ed.) 1277 ; Schouler’s…
2Cited by4 opinions
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