Estate of ELSINORE MACHRIS GILLILAND, Deceased. UNION BANK, as Co-trustee, etc., et al., Petitioners and Respondents, v. AMERICAN HEART ASSOCIATION et al., Objectors and Appellants

Holding

The court held that the trustees’ method of collecting the corporate debt did not constitute an impermissible “extension” of promissory notes in violation of the testamentary instrument, and that the co-trustee’s dual role as a corporate officer and minority shareholder, known to and approved by the testatrix, did not create a disqualifying conflict of interest warranting his removal.