Samuel Hano Co. v. Hano

Citations

• 224 Pa. 212
• 73 A. 341
• 1909 Pa. LEXIS 759

Syllabus

<p>Trusts and trustees — Executors and administrators — Assessment on stock — Corporation—Parties.</p> <p>Where a testator leaves his estate, including shares of stock in a foreign corporation, to his executors in trust for the uses and purposes declared in his will, and the executors file their account, and a decree is entered awarding to them as trustees the stock in question, a decree of a court of the state of the corporation’s origin subsequently entered levying an assessment against the executors of testator is no ground for an entry of a judgment in this state against the trustees. The decree awarding the stock to the trustees cannot be impeached collaterally, and as long as it stands the stock in the hands of the trustees is discharged of liability for any indebtedness of the testator’s estate. In such a case the fact that the individual trustees were the same persons as the executors of the will is a matter of no significance.</p>