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eBook details

• Title: Bratt v. Cox Et Al.
• Author : Supreme Court of Minnesota
• Release Date : January 02, 1935
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 59 KB

Description

RUGG, Chief Justice. This is an appeal from a decree entered in the Probate Court on a petition for instructions as to the distribution of certain bonds and accrued interest on certain savings bank deposits, brought by Mattie O. Bratt, administratrix with the will annexed de bonis non of the estate of Joseph H. Ordway. The case was submitted to the trial Judge upon an agreed statement of facts and certain uncontradicted and undisputed oral testimony. Thus it appears that Joseph H. Ordway died testate in January, 1932, leaving a widow and a daughter by a former wife, who is the present petitioner. By his will the widow was named executrix, and the bulk of his property was left to her for her life only, but with full power to use, sell, transfer and dispose of the same in any manner she may deem necessary for her benefit and enjoyment during her lifetime, with an admonition to provide for the support and comfort of his daughter, and the further provision that Should my daughter Mattie, without leaving issue, predecease my wife, then in that event, my wife shall have the power to dispose of all the property by testamentary provisions. All of said property which remains undisposed of at the death of my wife was left in trust for the daughter and her issue. The widow was appointed executrix in February, 1932, but died in the following December without completing her administration or filing any account. Among the assets left by the testator were two checking accounts in national banks aggregating almost $60,000 and deposits in savings banks. The checking accounts were changed into the name of the estate. They bore interest at the rate of one per cent. from October 19, 1931, to May 16, 1932, and at the rate of one half of one per cent. from the latter date to December 31, 1932. A safe deposit box in which the testator kept securities likewise was changed into the name of his estate. In April, 1932, the executrix gave up her own safe deposit box and moved her valuables into the box of the estate after pushing the valuables of the estate into the back part of the box so as to keep her property in the front separate from that of the estate. This was done pursuant to advice of her attorney. The executrix was worried about her income although she was receiving between $9,000 and $10,000 annually from property other than that provided for her under her husbands will. In March or April, 1932, she consulted a former business associate of her husband as to the investment of part of the estate in the checking accounts in the national banks to the end that more income might be received from them. He recommended the purchase of certain conservative bonds. Acting on that advice, she purchased bonds late in April to the value of $10,000, early in May to the value of $5,000, and late in July to the value of $10,000. In payment of these bonds she gave checks on the checking account of the estate signed by her, two as executrix and one as Grace P. Ordway, which, two days later, she wrote to the bank should have been signed as executrix. In June she paid to herself a widows allowance of $2,500 from the checking account by a check payable to her own order drawn by her as executrix. After the death of the widow these bonds were found in the front of the safe deposit box with certain of her personal belongings, distinctly separated from securities formerly owned by her husband which were in the back part of the box. Coupons payable after the purchase and before her death were found uncut and attached to the bonds. No interest from deposits in the savings banks had been withdrawn.

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