Herrmann v. Brighton German Bank Co.

Citations

• 16 Ohio N.P. (n.s.) 47

Syllabus

<p>Gifts — Voluntary, Irrevocable Trust Established, in Banh Deposit— Where Transfer of Title had Failed as a Gift Inter Vi'i os — Intention to Create a Trust — Word “for” Construed as Equivalent to “Trustee for” — Notice to Beneficiary Unnecessary.</p> <p>1. A trust in a fund deposited in bank may be established by parol.</p> <p>2. Failure to establish by clear and unequivocal testimony an effective transfer of the legal title to a fund, operating as an executed gift inter vivos, does not preclude the donee from showing, and enforcing a perfected, valid trust.</p> <p>3. Where B deposited a sum of money in bank in the name of “B for H,” stating at the time to the cashier of the bank that she desired to make the deposit for H, her brother, who was an invalid, and thereafter making other deposits in the same manner, keeping the bank book in a safety deposit box to which she and H had access, Held:</p> <p>(u) That the use of the word “for” indicated an intention to create • a fiduciary relationship and to constitute herself a trustee of the fund for H;</p> <p>(6) That the effect of the deposit was to pass the equitable title to the fund completely and irrevocably to H, who is entitled to its possession after the death of B; and</p> <p>(c) That notice to H of such deposit was unnecessary, and acceptance by him of the benefit of the trust will be presumed.</p>