Edwards v. County National Bank & Trust Co.

THE COURT.

A hearing was granted in this case after decision by the District Court of Appeal, Second Appellate District, Division Two. Upon further consideration, we are satisfied that the opinion of Mr. Justice

pro tern.

Fricke correctly determines the issues, and we hereby adopt it as the opinion of this court. It reads as follows:

“The deceased died in 1926 leaving a will providing that the residue of his entire estate should go to Commercial Trust and Savings Bank of 'Santa Barbara, California, in trust, the income to be paid as follows: ‘ One-half part thereof to my wife, Mabel R. Edwards, for and during the term of her natural life; one-eighth part thereof to my son, Alfred R. Edwards; one-eighth part thereof to my daughter, • Elizabeth Edwards Ryon; one-eighth part thereof to my son, John B. Edwards; one-eighth part thereof to my son, Richmond A. Edwards, during their respective lives. Each and all of such payments are made for the sole and separate uses of the beneficiaries, and the same are not to be deemed or held liable in any possible event for the debts, control or engagements of such beneficiaries, or any other person, and are to, be free from the- control of any husband, and are not to be subject to any transfer, mortgage, pledge or assignment by them or either or any of them. ’ The will was admitted to probate February 1, 1930, and the estate distributed to Security First National Bank as trustee of the trust aforesaid. On May 16, 1930, this trustee resigned and was discharged by the court, and County National Bank and Trust Company was appointed successor trustee and received the trust estate. It further appears that subsequent to the execution of the will John B. Edwards became indebted to the decedent on a promissory note, which was reduced to a judgment in the amount of $4,302.30 by the executor. Similarly the executor recovered a judgment against Richmond A. Edwards for $4,770.25 on a note given by him to the deceased subsequent to the date of the will. Alfred R. Edwards also had given a note to the deceased subsequent to the will, and decedent had also endorsed cer

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tain notes for the benefit of Alfred R. Edwards, which were paid by the estate. The foregoing transactions were reduced to a judgment against Alfred R. Edwards in the amount of $17,996.36, in an action by the executor.