Coudon v. Updegraf

Citations

• 83 A. 145
• 117 Md. 71
• 1911 Md. LEXIS 191

Syllabus

<p>Executor as trustee: presumption of law — . Jurisdiction of equity; Orphans’ Courts. Legatees: right to sue for legacy. Wills: construction; residuary legatees; distribution; life estate; stocks; stock dividends.</p> <p>Where the same party is both executor and trustee, a trust fund by operation of law will be considered in his hands in his capacity as trustee after the time limited by law for the settlement of the estate; and the probate of the will and the taking out of letters testamentary by the executor will be considered as sufficient evidence of the acceptance by him as trustee of the trust. pp. 74-75</p> <p>A Court of Equity is the appropriate tribunal to administer the trust; and any party interested in the trust estate has a right, under sec. 219 of Art. 16 of the Code, to apply to that Court to require the executor as trustee to give bond. p. 75</p> <p>The Orphans’ Courts have no jurisdiction over the administration trusts. p. 75</p> <p>Legatees have a right to file a bill in equity against an executor for the recovery of their legacies; and where it appears that many of the parties are non-residents the case is one which demands the larger powers of an Equity Court properly and satisfactorily to deal with the subject-matter and the parties. pp. 75-76</p> <p>In the interpretation of wills the cardinal canon of construction is that the intention of the testator, ascertained from the whole instrument, and read in the light of the surrounding circumstances existing at the date of its execution, musf prevail, provided it does not conflict with some rule or law of property. p. 78</p> <p>Tbe best evidence of a testator’s intention is wbat be says in bis will. ' p. 78</p> <p>After making numerous specific legacies, a testator, by tbe residuary clause of bis will, provided that all tbe rest and residue of bis estate should be divided into equal parts and be distributed among bis children; by other provisions tbe testator bad left certain property f0 ]ús -wife