Does a person named as an executor in a will have title to the stock of a national bank when it is transferred to them as trustees on the books of the bank?

The fact that the trustees had no right, under the rules and practice of the courts of Wisconsin, to invest in the stock of a national bank did not prevent title to the stock vesting in them as trustees when it was transferred to them as trustees on the books of the bank. When an executor is also a legatee or distributee, no formal act is necessary to vest title to the legacy or distributive share in him as an individual. Any act on his part, showing an intention to retain assets in payment, is sufficient. So, if the person named as an executor in the will is also named as a trustee, the rule in England and in many of the states of this country seems to be that if, as executor, he clearly sets apart and appropriates a particular fund to himself as trustee, he holds that fund as trustee and not as executor. See Perry on Trusts (6th Ed.) vol. 1 Sec. 263; Ruffin v. Harrison, 81 N.C. 208 (1879).