Whitecar's Estate

Citations

• 147 Pa. 368
• 23 A. 575
• 1892 Pa. LEXIS 856

Syllabus

<p>Trusts and Trustees — Neglect to invest — Advice of Counsel.</p> <p>It is supine negligence for a trustee to permit a fund of $2,900 to remain for fifteen years on deposit in a saving fund; and Ms negligence is not excused by the fact that he at one time tried to find an investor but failed, that the cestui que trust was not dependent upon the fund, and that Ms leaving the fund on deposit was done under advice of counsel. In such a case a surcharge of one per cent per annum will not more than represent the loss to the cestui que trust.</p>