In re Hensing's Estate

Citations

• 3 Cal. Unrep. 685
• 31 P. 578
• 1892 Cal. LEXIS 1060

Syllabus

<p>Trustee—Accounting.—In a Probate Proceeding It Appeared that by a decree of distribution made under a will Z. received, in trust for the grandchildren of testatrix, money to be paid when the eldest attained her majority. On the same date as the will the same testatrix conveyed to Z. a lot of land in trust for A., F., and O., grandchildren of testatrix, to be conveyed when the eldest became of age. There were living at date of will and conveyance five grandchildren—M., A., F., G., and A., but no O., as mentioned in the conveyance. After M., the eldest, attained her majority, Z. conveyed the lot held by him in trust to the four grandchildren mentioned in the deed of trust, including 0., who never existed, and on the same day deposited in a bank in his own name, as trustee for the five grandchildren, a part of the money held by him in trust, as M., the eldest, desired Z. to retain her share, and the other children had no guardian. Subsequently Z. filed his account, charging himself six per cent interest on the trust fund down to the time of deposit, and seven per cent on the amount retained by him after the deposit, and credited himself out of the whole fund with taxes paid, street assessments, and costs of conveyancing on the lot owned by only three of the grandchildren, and also credited himself with the amount in bank. Held, that Z. should be charged with the amount received by the decree of distribution, with interest at seven per cent until the deposit in the bank, after which time with the interest earned in the bank, and with the amount deposited in the bank. The amount paid by him for taxes, street assessments, and conveyancing should be credited him, and taken out of the shares, distributed to the three grandchildren who own the lot, and in whose interest these sums were expended.</p>