Estate of Goldfader

131 Cal.App.2d 533 (1955) Estate of PHILIP GOLDFADER, Deceased. ROBERT C. KIRKWOOD, as State Controller, Respondent,

v.

DORA CHIRLS, as Executrix, etc., Appellant.

Civ. No. 20689. California Court of Appeals. Second Dist., Div. Two.

Mar. 15, 1955. Jacob W. Silverman for Appellant.

James W. Hickey, Walter H. Miller and William L. Baugh for Respondent.

McCOMB, J.

From an order fixing the inheritance tax due the State of California in a probate proceeding, the executors appeal.

Facts: Philip Goldfader died testate August 25, 1951, a resident of California, leaving:

a. Probate assets of the appraised clear market value of $54,792.22;

b. Annuity policies of the appraised clear market value of $151,305.42, payable on his death to his adult son, Harold G. Sterling;

c. Savings and loan accounts of the appraised clear market value of $14,500, in decedent's name "as trustee" for his adult son, Harold G. Sterling.

Decedent's will left his entire estate to the aforementioned son. The inheritance tax appraiser filed his report taxing each of the items listed under paragraphs a, b, and c, above. No objection was made to the taxation of items a and b, [534] but formal objection was made to the report of the inheritance tax appraiser insofar as it taxed item c, above. This objection was overruled and the present appeal has ensued.

It was stipulated that decedent in his lifetime gratuitously opened in his name as "trustee" for his said adult son, various savings accounts which at the date of his death were appraised at the clear market value of $14,500. The funds so deposited were the father's (decedent's) which were never physically in the possession or custody of his son in the lifetime of the decedent.

[1] Question: Is there substantial evidence to sustain the trial court's finding of fact reading thus:

"That said decedent gratuitously and without consideration voluntarily established and opened said savings and loan accounts by depositing his funds in various Savings and Loan Associations in his own name as trustee for his adult son, Harold Goldfader, now known as Harold G. Sterling, as follows: (See various Savings and Loan Accounts listed in the total sum of $14,500.) That the moneys and credits or funds of said decedent so deposited were never at any time in the life of said decedent turned over or delivered to the said adult son, Harold G. Sterling. That said funds of said decedent were and remained the property of said decedent as trustee of revocable trusts and under his exclusive possession and control."