Estate of Seligman

The contestant claims that the administrator should be charged with interest on the moneys in his hands from July 12, 1871, to this day. The moneys, amounting to $12,625.86, were not on deposit at the death of decedent, but have been received from debts and on a draft. By law, the administrator had the right to keep the funds of the estate in his hands one year for the purposes of administration. Upon the close of the year it is the duty of the administrator to present his account and proceed at once to close the administration. Of course, heirs have the right to move to have the administration wound up; but independent of this right of the heirs, it is the duty of the administrator himself to take steps. It is not the policy of the law that an administrator should, for an indefinite period, retain money or other property. The period of one year is fixed by law, to the end that upon the expiration of that year the administration be closed. If money be retained longer than that period, it must be for some reason. In the absence of any other reason, the law will presume that it is for the benefit of him who keeps it. It is apparent that no man, practically, keeps money in his…