8 Pa. 431 | Pa. | 1848
The ward’s release, executed as it was within less than four months after she had attained the age of twenty-one, is to be laid out of the case. It has often been ruled, and particularly in Lukens’s Appeal, 7 W. & S. 48, that
That General Stanley received $400 from the executors, in trust to apply the interest to the maintenance of the testator’s widow, and to pay the principal to the residuary legatees at her death; and that he did not charge himself with his ward’s portion of it in his guardianship account, are facts which are admitted in the answer to the bill. But it is insisted that, as the money was in his hands, not as a guardian, but as a trustee, it was not a proper subject of the guardianship account. The parties ultimately entitled to the fund, however, might waive the benefit of a trustee account, and, the trust being executed, treat him as the primd facie holder of the whole sum. Strictly speaking, none but the executor or administrator of the cestui que trust, could make him show how he had discharged his stewardship. For what purpose but. to bur-then the fund with costs and charges, settle such an account ? A sum of money had been put into his hands to maintain the widow with the interest of it, and the presumption is that the principal was undiminished at her death; but if any part of it had been lost by any other means than his own mismanagement, it was his business, unasked, to settle an account as a trustee, in order to give the residuary legatees an opportunity to contest the’matter with him in open court. Having thought proper to do otherwise, he surely cannot set up his own default as a bar to the complainant’s bill to charge him in his guardianship account, in which due allowances may be made him with equal convenience and effect. In Jacobs v. Bull, 1 Watts, 370, it was held, in substance, that money shall be taken to be in the hands of an executor or trustee, where the offices are concurrent, in the one character or the other, as may better serve the purposes of justice.
The fund was invested in shares of Schuylkill Bank stock purchased and standing in the guardian’s name, which have greatly fallen in value; yet the appellant insists that the ward shall take
Decree affirmed.