Opinion
Submitted February term, 1939.
Decided April 21st, 1939.
Testator directed his executor "to sell and convert into money, all the balance of my property and estate, real, personal and mixed," and after paying the expenses of settling his estate, to pay the balance to his sister. Held, the gift included the testator's bank account which, being a credit, was therefore convertible "into money."
On appeal from a decree advised by Vice-Chancellor Bigelow, whose opinion is reported in 124 N.J. Eq. 453.
Messrs. Kristeller Zucker ( Mr. Lionel P. Kristeller, of counsel), and Mr. Edward M. Sullivan (of the Rhode Island bar), on the brief, for the appellants.
Messrs. Carl Wm. Abruzzese ( Mr. Carl Abruzzese, of counsel), for the respondents.
We are in accord with the conclusion reached by the learned vice-chancellor, and the decree is accordingly affirmed.
The bank account was a credit, and was therefore convertible "into money." And, by the same clause, the testator gave the "balance" of his "estate," after the payment of administration expenses, to his sister Matilda.
Appellants "ask leave to reserve their right to apply for an allowance of costs and counsel fees." We have concluded that they are not entitled to either costs or counsel fees; and the application is therefore denied.
For affirmance — THE CHIEF-JUSTICE, PARKER, CASE, BODINE, DONGES, HEHER, PERSKIE, PORTER, HETFIELD, DEAR, WELLS, WOLFSKEIL, RAFFERTY, HAGUE, JJ. 14.
For reversal — None.