Conditional And Future Interests And Illegal Conditions And Restraints in Illinois
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This must ordinarily have been invested by the execu- tor and the income paid to the legatees for life (see infra). The executor, however, paid over the money in specie to the legatee and the credit for this amount in his final account was sustained. See also Sheets v. Wetsel, 39 111. App.
600.
It is often an important and diflBcult question to determine whether the first taker has a right to use up and consume the princi- pal or not. The inclination seems to be to hold that a gift to the secon...d taker after the first taker's life interest of "all that remains" or words of like effect, is suffi- cient to give the first taker the power to use up and consume the principal fund: Green v. Hewitt, 97 111. 113, (Semite); Walker v.
Pritchard, 121 111. 221; in re Es- tate of Cashman, 134 111. 88. In Welsch V. Belleville Savings Bank, 94 111. 191, 201-202, a different re- sult was reached upon the context of the will in other respects.
274 Ch. VI.] FUTURE INTERESTS IN PERSONAL PROPERTY. [§ 193.
What to read after Conditional And Future Interests And Illegal Conditions And Restraints in Illinois?
You can find similar books in the "Read Also" column, or choose other free books by Albert Martin Kales to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This must ordinarily have been invested by the execu- tor and the income paid to the legatees for life (see infra). The executor, however, paid over the money in specie to the legatee and the credit for this amount in his final account was sustained. See also Sheets v. Wetsel, 39 111. App.
600.
It is often an important and diflBcult question to determine whether the first taker has a right to use up and consume the princi- pal or not. The inclination seems to be to hold that a gift to the secon...d taker after the first taker's life interest of "all that remains" or words of like effect, is suffi- cient to give the first taker the power to use up and consume the principal fund: Green v. Hewitt, 97 111. 113, (Semite); Walker v.
Pritchard, 121 111. 221; in re Es- tate of Cashman, 134 111. 88. In Welsch V. Belleville Savings Bank, 94 111. 191, 201-202, a different re- sult was reached upon the context of the will in other respects.
274 Ch. VI.] FUTURE INTERESTS IN PERSONAL PROPERTY. [§ 193.
What to read after Conditional And Future Interests And Illegal Conditions And Restraints in Illinois?
You can find similar books in the "Read Also" column, or choose other free books by Albert Martin Kales to read onlineMoreLess
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