Klein Olsen v. Martin

California Court of Appeal Dec 2, 1937 No. Civ. 10650Published

Before: Spence

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Holding. The court held that the testatrix's estate vested in her two daughters at the time of her death, and therefore, the interest of a daughter who died before the trust terminated passed to her own estate.

Issues

Whether the interest of a beneficiary in a testamentary trust vests at the time of the testator's death when the will contains no provision for the disposition of the estate should the beneficiary die before the trust terminates.

Disposition. affirmed

Quotations verified verbatim against the opinion

“the trial court correctly concluded that the estate of the mother vested in the two daughters at the time of the mother’s death subject only to the terms of the trust”

SPENCE, J.

This is an appeal upon the judgment roll from the decree of distribution in the above-entitled estate.

The deceased died testate in 1935 leaving' two daughters, namely, Barbara M. Klein and Lila M. Klein Olsen, the latter being the appellant herein. The third and fourth paragraphs of the will read as follows:

‘1 THIRD: I give, devise and bequeath all the rest, residue and remainder of my estate of whatsoever kind, character and nature, and wherever situated, to my beloved daughters, BARBARA M. KLEIN AND LILA M. KLEIN OLSEN, they surviving, share and share alike, in TRUST, as hereinafter provided.

“IT IS MY WILL, and I order and direct that in the event that my said daughter BARBARA M. KLEIN has not attained the age of Twenty-five (25) years at the time of my death, that the estate So bequeathed to my said daughter, Barbara M. Klein, she surviving, as aforesaid, be converted into a TRUST FUND and be held in TRUST as a TRUST FUND by the Executors hereinafter named as TRUSTEES or the survivor thereof, giving and granting unto said Trustees full power and authority to manage and control said TRUST FUND for the sole use and benefit of said Barbara

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M. Klein, until she shall have attained the age of Twenty-five (25) years.

“The said Trustees of said TRUST FUND shall in the event that the said Barbara M. Klein has not attained the age of Twenty-five (25) years pay over and allow the said Barbara M. Klein, the entire net income from said TRUST FUND, or so much thereof as may be deemed necessary for her proper care, support and maintenance and also any portion of the principal of said TRUST FUND which the said Trustees shall deem necessary in any emergency for the proper care, support and maintenance of the said Barbara M. Klein; and the said Trustees of said TRUST FUND shall at the time that the said Barbara M. Klein attains the age of Twenty-five (25) years make a full and complete accounting to the said Barbara M. Klein and pay over to her the entire TRUST FUND remaining or on hand and in their possession including any and all interest, profits and income belonging thereto; and the receipt of said Barbara M. Klein, for any sum or sums so paid and allowed her hereunder during the term of said trust and final settlement thereof shall be a full and sufficient release and acquittance thereof to the said TRUSTEES.

Klein Olsen v. Martin

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SPENCE, J.

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