Elliott's Adm'r v. Howell

Citations

• 78 Va. 297
• 1884 Va. LEXIS 8

Syllabus

<p>1. Fiduciaries-Good faith-Ordinary prudence.-Guardians and other fiduciaries are accountable only for the exercise of good faith and the same discretion that a man of ordinary prudence is accustomed to exercise in the management of his own affairs. Myers v. Zetelle, 21 Graft. 733.</p> <p>2. Guardians-Investment of funds.-It is the duty of guardian to invest properly his wards’ funds which come to his hands, and for his failure so to do he incurs liability according to the nature of the case.</p> <p>3. Idem-Idem.-Where guardian properly invests wards’ funds in real estate, and mistakenly, through no bad faith of his, conveyance thereof is made to the wards’ mother, and on discovery of the mistake, guardian procures her to convey the property to the wards by deed to be held in escrow, until wards’ maturity, so as to give them option then - to accept the conveyance, or to reject it and leave the property in the mother, and by accident the deed of conveyance is destroyed, and after her death the property is sold without objection on the wards’ part, to pay her debts, guardian be should not held accountable.</p>