Estate of Hertzler

Citations

• 192 Pa. 531
• 43 A. 1027
• 1899 Pa. LEXIS 954

Syllabus

<p>Executors and administrators—Accounting — Profits—Surcharge—Release.</p> <p>Where a legatee entitled to one third of a residuary estate releases to the executors his “full share of the residue and remainder of the estate .... and from all actions, suits, accounts, reckonings, claims and demands whatsoever for or by reason thereof,” the release covers his entire interest, and not merely the interest shown by the account of the executor filed, up to date; and subsequently, on final accounting, where the executors are surcharged with two thirds of the profits made on a portion of the estate, up to the time of the release, they should be surcharged with only two thirds of the profits made after the release, and not with the whole amount of such profits.</p> <p>Where executors retain the moneys of the estate in their hands for a number of years, and invest the same in business, making large profits, they are bound to account for the profits, although there may have been no technical trust created by the will.</p>