Delaware § 1551 Appointment of trustee upon petition of executor or administrator; bond, duties and release of trustee

Delaware Statutes

§ 1551 — Appointment of trustee upon petition of executor or administrator; bond, duties and release of trustee

Delaware § 1551

JurisdictionDelaware

Title12

PartAdministration of Decedents’ Estates

Ch. 15LETTERS TESTAMENTARY AND LETTERS OF ADMINISTRATION

Subch.Life Interest in Personalty Where Will Appoints No Trustee to Administer

This text of Delaware § 1551 (Appointment of trustee upon petition of executor or administrator; bond, duties and release of trustee) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 1551 (2026).

Text

(a)When any person, other than the person who during life shall be entitled under the will of any deceased testator to the income on the personal estate of such deceased testator or any part thereof, shall be the executor or administrator with the will annexed of the estate of such deceased testator, such executor or administrator with the will annexed may, if no trustee is named in such will, after having passed a final account of administration on the estate before the Register of Wills, petition the Court of Chancery for the appointment of a trustee to receive from such executor or administrator with the will annexed, the fund to which the person named in the will is entitled during the person’s life.

(b)The Court of Chancery, upon petition being presented to it as provided in subsec

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(a) When any person, other than the person who during life shall be entitled under the will of any deceased testator to the income on the personal estate of such deceased testator or any part thereof, shall be the executor or administrator with the will annexed of the estate of such deceased testator, such executor or administrator with the will annexed may, if no trustee is named in such will, after having passed a final account of administration on the estate before the Register of Wills, petition the Court of Chancery for the appointment of a trustee to receive from such executor or administrator with the will annexed, the fund to which the person named in the will is entitled during the person’s life.

(b) The Court of Chancery, upon petition being presented to it as provided in subsection (a) of this section, shall appoint a trustee to receive, manage and invest the fund, and the trustee shall give bond as the Court may order and direct.

(c) The trustee shall manage and invest the fund, and pay over to the person entitled for life to the fund the profits and income arising thereout; and after the death of the person entitled for life, shall pay the fund to the person entitled absolutely.

(d) The trust shall terminate upon the death of the person entitled during life to the fund, and the release of the person entitled absolutely to the fund shall discharge and release the trustee from all liability for or concerning the same.

Legislative History

21 Del. Laws, c. 295, § 1 ; Code 1915, §§ 3357, 3358; Code 1935, §§ 3822, 3823; 12 Del. C. 1953, § 1551; 59 Del. Laws, c. 384, § 1 ; 70 Del. Laws, c. 186, § 1