This action is for the construction of the last will and testament of Eva Kielb and for instructions concerning the disposition of four bank accounts. The matter has been submitted upon a stipulation of facts, briefs and oral argument.
The testatrix died on November 2, 1957, a resident of Essex County. Among her assets were four bank accounts opened by her, each entitled "Eva Kielb in trust for Walter Kielb, Jr." In her will, dated April 2, 1948, she bequeathed $2,000 to her son Walter, "to be advanced to him as soon after my decease as is practicable." She created a trust of $1,500 for her niece, Blanche Mytych, to accumulate the income during her minority and to pay it and the corpus to her when she reached 21. The residue of her estate was placed in trust, the income to be paid to Walter for ten years after her death, at which time he was to receive the corpus absolutely. The will provided for gifts over to Walter's issue if he died before the expiration of the ten-year period leaving issue, and to Mrs. Kielb's brother, sisters and niece Blanche, if he died without issue. On August 22, 1960, during the pendency of this action, Walter
Kielb, Jr. died without issue at the age of 44. His administrator c.t.a. has been substituted as a party defendant. The residuary legatees under the will of Eva Kielb and the legatee under Walter's will dispute the ownership of the four accounts.
1. Howard Savings Institution (herein referred to as Howard), #544437, opened October 1931, with a balance at date of death of $10,226.69.
2. Howard, #C-1798, opened November 8, 1950, with a balance at date of death of $7,415.20.
3. Dime Savings Institution (herein referred to as Dime Savings), #183136, opened November 14, 1946 (now #180406 in United States Savings Bank, Newark), with a balance at date of death of $6,195.78.
4. Franklin Savings Institution (herein referred to as Franklin), #111099, opened April 2, 1948, with a balance at date of death of $6,090.
Walter was testatrix's only child and lived with her at the time of her death. He was not aware of the existence of the four bank accounts until after his mother's death. None of the funds in these bank accounts were contributed by him, and he never made any withdrawals from the accounts in her lifetime. Mrs. Kielb made several withdrawals from the account in the "Howard" opened in 1931. She withdrew from the "Franklin" account the sum of $717.61 on January 24, 1957, leaving a balance of $6,000. She made no withdrawals from the "Dime Savings" account or from the other "Howard" account which she opened on November 8, 1950.
At the time of her death Mrs. Kielb possessed real property valued at $21,000. In addition to the four bank accounts, the subject of this litigation, she had a fifth bank account in her own name in which there was on deposit $2,270. The total cash in the four accounts entitled in trust for Walter, plus the account solely in her name, approximated $32,200. In addition, she ...