In re the Estate of Levinson

Citations

• 98 Cal. 654
• 33 P. 726
• 1893 Cal. LEXIS 972

Syllabus

<p>Estates of Deceased Persons —Trust under Will—Renunciation of Trust by Surviving Partner—Partial Distribution—Stipulation—Rights of Legatee.—Where by the terms of a will the interest of the testator in a co-partnership business was given to one of'his copartners in trust, to retain one half of the profits for his services during the life of the testator’s mother, and out of the other half of the profits to pay her two hundred dollars per month, and that upon her death one half of the profits should be paid over to the sisters of the testator during the remainder of a term of five years, and that upon termination of the trust, a legacy of three thousand dollars should be paid to a person named, and the remainder of said partnership interest and share should be paid over to the sisters of the testator; and where it appears that the surviving partner renounced the trust, and that the mother of the testator made an. arrangement with his sisters to apply for an order of partial distribution, under a stipulation providing that the legacy of three thousand dollars should be paid, and the residue of the estate distributed in equal shares between the mother and the sisters, such legatee is entitled to distribution of said sum of three thousand dollars after the expiration of a year from the date of the letters, and of the time for the presentation of claims, it appearing that all claims against the estate had been paid, and that the legacy could be paid over without loss to the creditors or to any person interested in the estate.</p> <p>Id.—Time for Payment of Legacy—Estoppel of Distributors and Executor. —There being no trust to carry out under the will, time does not enter into the question to be considered, respecting payments to be made after the death of the mother, except for her protection, and when she and the sisters agreed to accept an equal distribution of the residue, instead of a monthly allowance to the mother for her life, and procured an order of distribut