The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-03-13
MARRIED WOMEN'S MONEY
The Court Of Chancery Makes an Im-
portant Ruling as to the
Duty Of Trustees

TRENTON, March 1S. 1sy1--An opinion
has been filed in the Court Of Chancery in
the case OF Speakman VS.. Tatem. which
contains an important construction of
the married woman's act. Thomas S.
Speakman in 1889. after the passage of the
married woman's act. married Emma z.
Draper Speakman was from Philadelphia
and the lady resided in Camden. Thir-
teen years later John Draper, the
father Of Mrs. Speakman. died,
leaving a valuable estate. Mr.. and
Mrs. Speakman Mt this time had
three children. Mrs. Spsakniau asst gned
her interest in her fathers estate TO a
trustee upon certain conditions, among
others that the husband might have the
use Of the money after her decease. Tne
failed to reduce the trust estate TO possess
sion, and permitted the wife to collect
aud receive it herself. Shortly after the
date OF the settlement, aud before any Of
the trust estate had been paid to the wife,
sne abandoned her husband, and three
years later he sued for and obtained de-
cree of divorce. which contained a proviso
that each party should enjoy their separ-
ate estate.
The husband survived the wife, and
brought suit in the Court of Chancery
against John G. Tatcm, the Trustee in
81
Trustee. The opinion of the court was
filed by Vice Chancellor Pittney, who
holds that the trust was liable and that
the standing of The complainant as suitor
is not affected by his decree of divorce.
He Is entitled to relief to the extent Of
the money the defendant did receive aud
might have received, amounting TO $12,-
500, and also TO an enquiry as to the value
of the specific chattei5 remaining at the
death of Mrs. Speakmau. As to the rent
of a house on Cooper street, Cam
den, the Vice Chancellor ar
rives at this conclusion: - The
right of the husband in the real estate of
his wife, by whom he has had children
born alive capable of inheriting it. and
when the marriage took place after the
passage Of the married woman's act Of
1852, forms a sufficient consideration for
a post-nuptial settlement made by the
husband and wife of her property in the
hands of custodian by which an inter
est is given 10 the husband.
When O post-nuptial settlement exc
cuted by a husband aud wife conveyed 10
a trustee in pre5enti all the right and
interest of the wife in the estate OF her
father under his will In such manner
that no further act on her part was re-
quired 10 be done in order to complete
the transfer, then the deed is exc
cuted and not merely executory,
although the estate assigned aud
transferred Dy IL Is not handed or paid
over TO the trustees. In such case the
trustee can enforce the deed as against
the custodian of the estate so transferred.
The trustee ofa voluntary settlement who
has accepted the trust is under the same
obligations to execute 1t as a trustee
under will, a guardian of lunatic or
infant. or an assignee in insolvency or
bankruptcy. He must execute 1t actively
and must not wait upon the motions of
the cestui 0lIe tTtLstent to iucite and
prompt the action. He must use the same
diligence in seeking for ana reducing TO
possession the trust property and the same
care in preserving it that an ordinary
careful aud diligent man would exercise
and take in respect to his own property.