Fall v. Miller

462 N.E.2d 1059 (1984)

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Nature of the Case

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Facts

Decedent bequeathed certain stock to Fall. During the administration of the estate, the executrix petitioned the court without Fall's knowledge or consent to sell the stock, alleging that it was necessary to do so to pay debts and expenses of the estate. The petition was granted, but this was a mistake made by the executrix. Eight months later, her attorney acknowledged the mistake in a letter and promised to compensate him or replace the stock. Thereafter the executrix, without knowledge of Fall, reacquired equal shares of the stock at market, but that price was lower than the price of the earlier sale as the stock had fallen in value. The executrix proposed to distribute the shares to Fall and to retain the profit in the residue which was to be divided between herself and others. Fall objected, and the trial court ruled against him. This appeal resulted.