Bank of America National Trust & Savings Ass'n v. Long Beach Federal Savings & Loan Ass'n

The Bank of America as executor appeals from a judgment denying its ownership or interest in certain notes and trust deeds, adjudging that Long Beach Federal Savings and Loan Association, a corporation, holds such securities in trust for the individual defendants, and that the corporate defendant has properly accounted for the earnings of the securities held by it for the several individual defendants.

Decedent, Minnie L. Hanssen, died on September 12, 1952. In the six weeks preceding her death, she made three wills. No question of her mental capacity, understanding of the transactions, or intent is involved. Her first will was made July 31, 1952. It made bequests to her blood sister, niece and nephew of $18,000 and left to her charities, Sunshine Mission and Bastside Christian Church of Long Beach, bequests totaling $11,000. Her second will of August 16, 1952, revoked all former wills and contains no bequests to her sister, niece or nephew, or to the charities involved in this litigation. Accompanying this holographic document, however, was a letter which read in part: “I think it is the wisest thing to do to assign some of my trust deeds and my home as joint heirs with whom I…