In re the Estate of His Late Majesty Lunalilo
In re the Estate of His Late Majesty Lunalilo
Opinion of the Court
The trustees of this estate set forth that from the sales of property belonging to- said estate, they have- cash- assets in their hands amounting to- $28,228.09, and ask for directions.
The question at the hearing, was, whether the sum should be invested on bond and mortgage, to* the end that when the buildings contemplated by the will of his late Majesty shall have been constructed, there may be something left to keep the buildings in repair and to maintain- the inmates, or whether it is the duty of the trustees to commence to build
Tbe will of bis late Majesty devises to bis trustees, wbo are to be nominated by tbe majority of tbe Justices of tbe Supreme Court, or tbe Court of tbe bigbest jurisdiction in these Hawaiian Islands, all bis real estate to be held by them (said trustees) in ¡trust for tbe following purposes, to wit: “ To sell and dispose of said real estate to tbe best advantage at public or private sale, and to invest tbe proceeds in some secure manner, until tbe aggregate sum shall amount to $25,000, or until tbe sum realized by tbe said trustees shall, with donations or contributions, from other sources, amount to tbe said sum of $25,000; then I order the trustees (to be appointed as aforesaid) to expend tbe whole amount in tbe purchase of land and in tbe erection of a building or buildings on tbe Island of Oahu, of iron, stone, brick, or other fireproof material, for tbe use and accommodation of poor, destitute and infirm people of Hawaiian (aboriginal) blood or extraction, giving preference to old people, upon such terms, rents or charges as to tbe said majority of tbe Justices of tbe Supreme Court, or Court of bigbest jurisdiction in these Hawaiian Islands, shall seem proper.”
It is evident that tbe testator, at tbe time of making this will, did not suppose that bis real property would be so valuable as it has since proved to be. He even appears to have thought it quite possible that it would not realize upon sale so much as $25,000; and, if such should be tbe case, be directed that it should be invested until, by tbe force of its own accumulation, or by tbe addition of donations from other persons, it should amount to said sum of $25,000, which be evidently thought to be tbe smallest sum necessary for tbe foundation of tbe chaiity which be contemplated. But bis further commands are, that when the sum of $25,000 shall have been realized, tbe ground should be purchased and tbe building commenced, and tbe whole sum of $25,000 expended.
Reference
- Full Case Name
- In the Matter of the Estate of His Late Majesty Lunalilo
- Status
- Published