In re the Estate of Richardson

Wingate, S.

This matter seems to have proceeded on the wholly wrong theory that if trustees’ accounts show a loss of substantially one-fifth of the corpus of the trust, no explanation is required of them, but the sufferers are under the burden of showing that the loss is due to the trustees’ improper conduct. Such is not the law. Trustees in the face of such a loss are under the burden of showing facts and circumstances to establish they are without fault in the matter. (Underhill v. Newburger, 4 Redf. 499.) On the contrary, evidence as to the financial condition of the bank in whose stocks…