Dannat v. Jones
New York Surrogate's Court
David Jokes died in January, 1881, leaving a last will and testament, which was duly admitted to probate. By it, he first gave to Ms executors, in trust, Ms real and personal estate, in the following language: u Second, I give, devise and bequeath to (naming them), executors of and trustees under this my will, one equal fifth part of all my estate, real and personal . . . . to have and to hold the same to them and to the survivors and survivor of them, for and during the…
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David Jokes died in January, 1881, leaving a last will and testament, which was duly admitted to probate. By it, he first gave to Ms executors, in trust, Ms real and personal estate, in the following language: u Second, I give, devise and bequeath to (naming them), executors of and trustees under this my will, one equal fifth part of all my estate, real and personal . . . . to have and to hold the same to them and to the survivors and survivor of them, for and during the life of my sister Mary, wife of George W, Griffith, in trust, nevertheless, to take possession of the real estate, keep the…
1Opinion of the Court
The Surrogate.
The element of difficulty arises from the power given to the executors, by the will, to *605continue the business. Had they been authorized to invest the personal estate and to pay over the income to the beneficiaries for life, with remainder over, the duty would have been an ordinary and simple one. The corpus of the estate should then have been kept properly invested and preserved intact for the legatees in remainder. If, however, any loss had been incurred without the fault of the executors, the capital would have been diminished to that extent, and the income lessened…
2Cases cited3 opinions
- Davis v. . StoverNew York Court of Appeals · 1874
- Boulle v. TompkinsNew York Surrogate's Court · 1882
- In re PollockNew York Surrogate's Court · 1877
3Cited by3 opinions
- In re GorraNew York Surrogate's Court · 1929
- In re Cornell's EstateNew York Surrogate's Court · 1896
- In re Goetschius' EstateNew York Surrogate's Court · 1893