Barker's Estate

Citations

• 159 Pa. 518
• 28 A. 365
• 1894 Pa. LEXIS 886

Syllabus

<p>Assignment for benefit of creditors — Vested and contingent interests — Will —Restraint on power of alienation.</p> <p>Every interest owned by a debtor in Pennsylvania, whether vested or contingent, may be the subject of assignment for the benefit of creditors, unless the instrument creating it contains a valid restraint upon his power of alienation.</p> <p>Where a will provides that during a trust for the maintenance and support of the husband and family of the. testatrix, the estate shall “ be enjoyed, by him and them without being in any way subject to or liable for the debts or engagements of my said husband or any of our children,” and the trust estate still remains in the possession of the trustee, a general assignment by a son .of testatrix for the benefit of his creditors does not pass the son’s interest in the estate.</p> <p>Spendthrift trust — Discretionary power in trustee to pay over.</p> <p>Where in such a case testatrix gave the executor or trustee absolute power in his discretion to pay to such son his share of the estate, the executor may pay the son’s share directly to him after he has made an assignment for the benefit of creditors.</p> <p>Will — Vested and contingent interest — Advancement by executor.</p> <p>A will gave the executor power to make advances to testatrix’s son on account of an interest which was vested, subject to be divested upon a contingency which never happened. The executor made advances to the son, arid took his notes therefor. The son subsequently died leaving a will by which he gave his property to his mother’s executor. Held, that the said executor was entitled to credit in his account for the advancement to the son.</p> <p>■ Trusts and trustees — Will—Investments.</p> <p>Testatrix appointed her husband as executor, “ with full power to take charge of my estate, and dispose of the same both real and personal át his discretion.” In another portion of the will, in referring to the authority given to the executor to allot t