Estate of FRED H. BIXBY, Deceased. FRED H. BIXBY, JR., Appellant, v. SECURITY FIRST NATIONAL BANK (a National Banking Association), as Trustee, etc., et al., Respondents
55 Cal. 2d 819 ·
Supreme Court of California · Filed
Published · citable
Cited by 3
Holding
The court held that the trustee's allocation of 27% of oil royalty receipts to principal was a valid exercise of its discretion, as granted by the testator in the will, and that the Principal and Income Law did not override this discretion.
Statutes construed
- CIV § 2283
- CIV § 730
- CIV § 730.04
- CIV § 730.15
Cited by (3)
- Estate of NELLIE C. GANSNER, Deceased. RAYMOND STIVERS, Claimant and Appellant, v. GEORGE GANSNER et al., Claimants and Respondents (1963) 222 Cal. App. 2d 390
- Trolan v. Trolan (2019) 243 Cal. Rptr. 3d 264
- Estate of THEODORE SCARBOROUGH PETERSEN, JR., Deceased; PHILIP H. ANGELL, as Trustee, etc., Petitioner, v. PAUL PETERSEN, a Minor, etc., Objector and Appellant; THEODORE SCARBOROUGH PETERSEN III, a Minor, etc., et al., Claimants and Respondents (1969) 270 Cal. App. 2d 89