Crew v. Pratt

Citations

• 119 Cal. 131
• 51 P. 44
• 1897 Cal. LEXIS 867

Syllabus

<p>Estates oe Deceased Persons—Trust under Will—Construction—Annuities—Commencement at Death of Testator—Time of Payment.— Where a trust created under a will has but seven years to run, and the will provided that the beneficiaries should receive annuities from the trustees for seven years, and there appears no express intention to fix upon another time for the commencement of the annuities, they must be held to commence at the decease of the testator, in accordance with section 1368 of the Civil Code; and a clause in the will providing for payment of annuities as soon as the trustees should have sufficient funds available for that purpose is to be construed as relating only to the time of payment, and not to the date when the annuities begin to run.</p> <p>Id.—Classification of Annuities—First Charge—Failure of Funds—Resort to General Assets.—The fact that the annuities were classified, and six of them were made subordinate to the first four, which were made a first charge upon any moneys in the hands o£ the trustees, does not require that the charge upon the revenue of each year shall be borne only by the revenue of that year, or affect the obligation of the trustees, to pay each and all of the annuities as of the date of the death of the testator, whenever and so long as there are sufficient funds or assets of the trust estate to meet them; and, under subdivision 3 of section 1357 of the Civil Code, if the fund or property out of which any annuities are payable fails, resort may be had to the general assets, as in case of a general legacy.</p> <p>In.—Temporary Family Allowance—Payments after Return of Inventory —Settlement of Final Account—Annuity to Widow—Offset.—Where a family allowance was made to the widow prior to the return of the inventory, although such allowance is in its nature temporary, and only continues until the return of the inventory, and although payments made thereon after the return of the inventory are at the peril of the executors, yet the co