Reference

Full Case Name

George B. Neal v. Wm. H. Black and Thomas H. Lane

Cited By

10 cases

Status

Published

Syllabus

Deed — Voluntary deed of settlement — Revocation. Where a person executes a voluntary deed of trust of his property for his own benefit, he thereby constitutes himself a ward of the court, and though no vested right in another be granted, he cannot revoke his act; except subject to the approval of a court having jurisdiction of such subjects. The absence of a power of revocation in a voluntary deed of trust does not render the deed improvident, if such power would defeat the purpose for which the deed was given, and it appears that a clause making it irrevocable was inserted at the request of the grantor. Deed — Voluntary deed of settlements — Trust and trustees — Discretion of trustee. A provision in a voluntary deed of trust leaving to the discretion of the trustee the amount of income to be paid to the grantor, will not defeat the deed, if it appears that the income from the estate was large, and that the provision was inserted after full discussion, and practically at the grantor’s suggestion. It is not improper in a voluntary deed of trust to give to the trustee extensive powers, and to give him unlimited discretion as to the conversion of property and investments. Voluntary deed of trust — Security by trustee. A voluntary deed of trust is not invalid because the trustee is not required by the deed to give security. Voluntary deed of trust — Trusts and trustees — Account—Power of court. As the legislature has conferred upon the courts extensive powers over trusts and trustees, it is not necessary in a voluntary deed of trust to provide that the trustee shall account to the cestui que trust. Voluntary donation — Burden of proof . Whenever one person obtains by voluntary donation a large pecuniary benefit from another, the burden of proving that the transaction is righteous falls upon the person taking the benefit; but this proof is sufficient if it shows that the donor knew and understood what it was that he was doing. Equity — Deed—Voluntary deed of trust — Power of appointment^-Grantor's mental capacity — Independent advice — Revocation—Evidence. A young man about a mqnth after he became of age executed a voluntary deed of trust to his uncle, who shortly afterwards under a power conferred in the deed, transferred the trust to the grantor’s former guardian, a man of high business standing and integrity. The' grantor while able to understand an ordinary proposition was of weak intellectual powers, and his mind had not been fully developed. No witness in the case stated unqualifiedly that he was able to take charge of and safely manage his affairs. The deed was prepared under the'advice of the family physician who had knowledge of the grantor’s mental condition when he came of age. The deed was presented to the grantor together with a statement of the amount of his property, which he professed to understand. • He stated that he desired his guardian to be the trustee, but acquiesced in the temporary appointment of his uncle until his guardian should file an account and be discharged. The uncle consulted with the attorney of the guardian, and when the deed was prepared the grantor visited the attorney, who carefully explained the deed, and after discussion with the grantor, a clause was inserted at the grantor’s suggestion giving to the trustee discretion as to how much of the income should be paid to the grantor, and also a clause making the deed irrevocable. The guardian had no knowledge of the deed until after its execution. The estate amounted to about $165,000, and the compensation of the trustee was fixed by the deed at $500 per year. About five years after the execution of the deed the grantor at the suggestion of his wife’s uncle executed a deed of revocation, and subsequently filed a bill in equity to enforce the revocation. The evidence did not show that there had been any marked improvement in the grantor’s mental powers or business capacity after the date of the execution of the deed. Held, that the deed of trust should not be revoked; and that the bill should be dismissed.