The Bridgeport evening farmer., 1913-01-22
WARNER ESTATE
ESTIMATED AT
FOUR MILLION
Widows Annuity May
Be Index To Total
Fortune
Has Use of Park Place Mansion
In This City While She
Remains Widow

| Inc d1Sp position by a n11ll1OnaIre resi-
dent of community of his estate is
| always a, matter of great interest to
his fellow citizens. Since the pubIL-
cation on Saturday evening of the
provisions of the VIII of the late Dr..
i L De Yer Warner, his disposal of his
| property has provided the chief news
item of local interest. It was read
| with general interest and its provis-
ions widely discussed. The most in
| teresting feature of the document was
the annuity of $50, 900 provided Tor
1 his widow In legal circles, where the
| will was today talked over this yearly
allowance made for his surviving wife
| was construed index to the size
| of DR.. Warmers estate. 1t was said
that this yearly allowance of $4,000
/ which has been provided for Mrs.
Warner, must equal at least one third
| of the income of his entire estate
It is reasoned that this must be so,
! because even though there is a Will
| the surviving wife is entitled, under
the Law, to the life use Of one third
] of the entire estate, both real and
personal property Therefore Dr.
| Warner, in making provision for the
payment each year to his wife of $780,
/ 900, must have given to her the
equivalent at least of the income of
one third of his whole estate, other
wise a. surviving wife could elect and
make choice between what the statutes
allowed her or what is provided for
| her by her husbands will.
/ For instance If DR.. Warmers estate
| inventoried 100000, one third OF
the estate would be. approximately
vested that it was earning five per
| cent. a year, the income from 1t would
! be $66,65O. Therefore the surviving
] wife could, by exercising her option
under the law, receive a greater an
nual income than $4,000 annuity.
| DR.. Warner in his will, In addition
70 Wtd fn tha innTt fs uae Of tHe vs n5
| at Park Place and the use of the
| country home on Greenfield Hill pro-
! vfded that she does not again marry
The law in allowing the surviving wife
| the income and use of one third of
the entire estate of course places no
| such condition upon her enjoyment Of
| this use. She would have it whether
she remarked or not
The successive codfciIs which DIR.
! Warner from time to time attached to
| his will, by which he increased the
annuity provided for his wife, are in
| terpreted as indicating the growth of
| his various holdings. AS his estate
grew in value. he would have to pro-
| vide for his wife a yearly sum at least
| equal to the income which she would
| derive from the use of one third of
his estate. Consequently, as his estate
grew in value, it would become neceS-
sary for him to provide a sum at least
or she could waive the allowance
made by the will and take what is
| provided for her under the statute.
| According to the terms of the will,
the use of the Park Place mansion is
| provided for, the widow of DR.. Warner
| only as long as she remains his widow.
Should she remarry, the beautiful
| home becomes the property or Ire
Fo1lett Warner, DR.. Warmers eleven
| years-o1d son. The cod1cil of the will
| provides that the Greenfield Hill
estates shall become the property of
Ira F. Warner, upon the remarriage
| or death of the widow. None of the
| provisions of the will or codicils af-
fects the annuity Of Mrs. Warner,
whether she remarries or not.
The statute making provision for
the wife applies only to marriages
since April 20, 1877. A surviving hus-
| band gets a like interest in the estate
left by his wife, in case of her leaving
a will. The laws relating to the prop
erty rights or husband and wife were
that time where a husband left will,
the wife had only a dover interest,
that is the life use of one third of the
lrea1 estate and not the personal prop
erty. Consequently, when Phineas r.
Barnum died leaving will, his wife,
under the law, having married him
prior to April 20, 1877, would have
been entitled to one third of the in
come of his real estate. If she had
been entitled TO the life use of one
third of his entire property she would
nave undoubtedly enjoyed a greater
| income than was provided for her un-
der the will, namely an annuity of
| $40, ,oo0.s But inaSmuch as her interest
in the estate was confined to the in
come of one third of the real estate,
tit was wise her part to take what
was provided for her in the will.