Estate of Williamson

Citations

• 143 Pa. 150
• 22 A. 836
• 1891 Pa. LEXIS 913

Syllabus

<p>[To be reported.]</p> <p>(a) A testator devised and bequeathed his whole estate to his executors for the express purpose of executing the various provisions of his will, authorizing them to lease his realty, and to convert and reinvest any part of the estate, and directing that all rents and income should constitute a part of his 'residuary estate. After directing the payment of certain annuities and legacies,</p> <p>(b) The will directed the residuary estate to be transferred by the executors to a trustee, who should keep it invested, accumulating and capitalizing the income, until the expiration of ten years after the testator’s decease, when it should be divided among such of his grand-nephews and grand-nieces, being the issue of certain brothers and sisters, as should then be living.</p> <p>(c) The will directed, also, that all income thereby given, except a certain annuity, should begin to accrue to the beneficiaries after one year from testator’s decease, and not before. During the year following the testator’s death, a large amount of income was collected by the executors, but their disbursements for expenses, taxes, and particular legacies, were greater than the income collected:</p> <p>1. Under the provisions of the will, the income which accrued upon the estate while in the hands of the executors, prior to the commencement of the residuary trust-estate, constituted part of the general estate of the testator in the hands of the executors, applicable to any of the purposes of its administration, including the payment of taxes, expenses, and the particular legacies bequeathed.</p> <p>2. As the will did not direct the accumulation of income during the first year, and, on the contrary, prohibited the payment of income as such to the trustee until after its expiration, and as the total estate was then much less than at the death of the testator, there was no violation of § 9, act of April 18, 1853, P. L. 503, so far as the income of that year was concerned.</