Court Opinion

ID: 9810855
Source: CourtListenerOpinion
Date Created: 2023-08-31 22:01:48.893905+00
Date Added: 2024-06-11T13:40:16.866461
License: Public Domain

*345Stacy, C. J.,
dissenting: The better expression, it seems to me, is to be found in “The Restatement of the Law of Trusts,” section 234 (g), published by The American Law Institute, which reads as follows:
“Income on Property Used in Paying Legacies, Debts, and Expenses: To the extent to which the income received by the executors during the period of administration is derived from property which is subsequently used in paying legacies and discharging debts and expenses of administration, and has not been applied to the payment of interest on such legacies, debts, and expenses, the trustee is entitled to receive the same, but it should be added to the principal and not paid to the beneficiary entitled to the income.”
This statement, which was prepared by noted scholars, judges, and lawyers, after an exhaustive study of the subject, has the merit of being supported by the English common law rule and is supposed to be the law of this jurisdiction, unless or until changed by statute. O. S., 970. Moreover, it seems to accord more nearly with the intention of the testator as expressed in the will before us. This was the view of the court below, and my vote is for affirmance.