Estate of Nazro

15 Cal.App.3d 218 (1971) 93 Cal. Rptr. 116 Estate of CORA L. NAZRO, Deceased.

RAYMOND J. LORENZ, as Trustee, etc., Petitioner and Appellant,

v.

SALVATION ARMY et al., Defendants and Respondents.

Docket No. 37069. Court of Appeals of California, Second District, Division One.

February 16, 1971. [220] COUNSEL

John W. Howard for Petitioner and Appellant.

No appearance for Defendants and Respondents.

OPINION

GUSTAFSON, J.

Petitioner is the trustee of a testamentary trust. On January 15, 1970, petitioner rendered an account for the calendar year 1969 and asked for compensation of $3,450 for himself and expenses of $2,300 for fees for his attorney. The account was approved, but the court allowed compensation of $2,500 to petitioner and expenses of $1,500 for fees for his attorney. Petitioner appeals.

The trust estate at the beginning of the year consisted of cash in the amount of $12,753.07 and stocks of a fair market value in excess of $500,000. During the year petitioner received interest on the cash in a savings and loan association and dividends on the stock in the total amount of $30,589.62. He made quarterly distributions to the two life beneficiaries in the total sum of $21,061.68. The stocks in the trust estate at the end of the year were the same stocks as were there at the beginning except that [221] a stock split was received from one corporation and a stock dividend (with respect to which petitioner paid $25.68 to acquire a fractional share) was received from another corporation.

Petitioner's attorney prepared and filed the account and petition (13 pages), prepared quarterly accountings for the beneficiaries and supplied information to the accountant who prepared the income tax return.