Leisenring's Estate

Citations

• 237 Pa. 60
• 85 A. 80
• 1912 Pa. LEXIS 892

Syllabus

<p>Wills — Vested and contingent estates — Income—Accumulations.</p> <p>1. A testatrix by will provided for certain annuities payable out of the income of her estate, and further provided that “any balance of income shall be divided between the children of M., if any, and upon her death the principal of said estate, subject to the......annuities, shall be divided between the children of M. then living,” with remainder over if she left no children. When the will became operative, M. was unmarried but three years later she intermarried and two years later had one son. The same year there was a fund for distribution consisting of a balance of surplus income, derived in part prior to the birth of M.’s son and in part subsequent thereto. Held, that M.’s child took both the part of the fund which accrued after his birth and the part accruing prior thereto.</p> <p>2. In such a case, the gift of surplus income was immediate, not being built upon the determination of any prior estate but given direct to the beneficiaries who are made primary legatees; and the fact that the testatrix knew of the nonexistence of such beneficiaries when she wrote her will is immaterial.</p> <p>3. A general residuary bequest, contingent in terms, carries the intermediate income which is not disposed of but accumulates. If the will is silent on the subject of a direction to accumulate, the law will supply the intention and allow the accumulation within the statutory period.</p> <p>4. A limitation which transgresses the rule against perpetuities is void altogether, while a provision for accumulation contrary to the statute is void only for the excess.</p>