Rastaetter's Estate

Citations

• 15 Pa. Super. 549
• 1901 Pa. Super. LEXIS 387

Syllabus

<p>Executors and administrators — Distribution of estate before end of year —Exclusion of creditor — Refunding bonds.</p> <p>An executor who files and secures the adjudication of his account and distributes the money of the estate within six months of the death of testator and grant of letters, without the taking of refunding bonds, is liable to a creditor of the estate who makes demand upon him within one year from the date of the issuance of letters testamentary; and suit against the executor brought in the common pleas within the year, and shortly after distribution, is equivalent to such demand, arid relieves the creditor of any charge of laches.</p> <p>Laches of creditors will not excuse the executor for not securing refunding bonds, but his failure to do so will amount to a devastavit and render him liable to creditors for the amount so paid out by him.</p> <p>Executors and administrators owe a duty to creditors of a decedent quite as important as that to heirs or legatees.</p>