Price

Appellants the Salvation Army, Guide Dogs for the Blind, Inc., and Masonic Homes of California, charitable beneficiaries under a testamentary trust (Trust B) of Corinne W. Reisinger, appeal an order distributing the trust’s assets. Respondent Kristen A. Wheaton Price is one of five residuary beneficiaries under Trust B. Appellants contend the court erred in ruling that the interest of the beneficiaries was determinable on the date of ultimate delivery of the trust’s assets, rather than the date the trust terminated.

Procedural History and Facts

Corinne W. Reisinger (Corinne) executed her last will in February 1966. The will contained specific bequests to particular relatives and friends and provided for the creation of two trusts upon her death: Trust A, a marital deduction trust, and Trust B, a residuary trust, with net income from both trusts to her husband, James C. Reisinger (James), for life. James and Bank of America were cotrustees of both trusts. Corinne’s will also provided: “On the death of my husband, the Trustee shall distribute Trust B as follows, but, if the full amount to be distributed to the following-named charities exceeds the amount available for…