262 Pa. 273 | Pa. | 1918
Opinion by
This is a case stated in an action of assumpsit to determine the ownership of a fund derived from life insurance. On June 6, 1908, Samuel S. Graham, of Brownsville, Fayette County, executed his last will, by which he gave all his property to plaintiffs as trustees and executors, to manage and collect the income, etc., but
“Witness my hand and seal this Sept. 23, A. D. 1908. “Attest:
“George D. Howell.
“Catherine E. Graham. (Seal)”
Mr. Graham died in March, 1914, leaving the will as above stated. Thereafter Mrs. Graham received $26,-048.96 on account of the life insurance, and therefrom paid testator’s debts, amounting to $1,632, leaving in her hands a net balance of $24,416.96, to recover which this suit was brought. The court below held the declaration of trust revocable and entered judgment for the defendant, from which the trustees (plaintiffs) brought this appeal.
The declaration of trust provides that Mrs. Graham shall turn the insurance money over to the trustees as soon as received, to become a part of her husband’s estate, and it is not testamentary as she thereby makes no disposition of property to take effect after her death, except as provided in his will.
It was not an agreement by her to accept the provisions of the will in lieu of dower, hence, Kreiser’s App., 69 Pa. 194, and Odenwelder’s Est., 1 Pa. Superior Ct. 345, are not applicable.
We have carefully examined the numerous authorities called to our attention, by the industry of the respective counsel, on the question as to whether the declaration of trust was revocable or irrevocable; but in our opinion whatever its character when made, it became irrevocable on the death of Mr. Graham, and good faith requires that it now be given effect.
The assignment of error is sustained, the judgment is reversed and here entered in favor of the plaintiffs and against the defendant for the sum of $24,416.96, with interest from January 1, 1916, in accordance with the terms of the case stated; this judgment to be entered also in the court below and all future proceedings thereon had in said court.