(Download) "Estate of Albert J. Bothwell v. Fisher" by District Court of Appeal of California " Book PDF Kindle ePub Free
eBook details
- Title: Estate of Albert J. Bothwell v. Fisher
- Author : District Court of Appeal of California
- Release Date : January 30, 1944
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 74 KB
Description
[65 CalApp2d Page 600] Two appeals are presented from an order settling the tenth account of a testamentary trustee. Appellants Ada Bothwell Fisher and Edith Bothwell Hale, adopted daughters of decedent, are entitled to receive the net income from the estate in trust -- not all of it, but all that is involved in the matter in issue. The trustee took the trust property by decree of partial distribution in 1929. Among the assets were a ranch property in Colorado and bonds of several South American Republics. The Colorado property was kept until 1940, when it was sold for $14,000. While not entirely unproductive, it was held at a continuing loss to the trust, the carrying cost exceeding the income for the 11-year period by $3,734.90. These annual losses were reported by the trustee from time to time in his accounts as having been paid out of general income and all of the accounts but one were approved as presented. The South American bonds were sold in 1940 for $20,310.63. The trustee by his tenth account reported the amounts received for the Colorado land and for the bonds as capital of the trust. Appellants filed objections to the account, contending that such proceeds should have been apportioned between principal and income. The court rejected this contention but did charge the principal and credit the income account with the amount of the loss in keeping the Colorado land. The life beneficiaries appeal from so much of the order as refused apportionment as between principal and income, and the trustee appeals from that portion which charged the expenses of the Colorado land to the capital account. The questions upon the two appeals are interrelated.
 "Estate of Albert J. Bothwell v. Fisher" by District Court of Appeal of California " Book PDF Kindle ePub Free){kind=link}