Arthur
Arthur v. Davies CA2/6
Opinion
Opinion
Yegan, J.
Facts and Procedural History On April 29, 1993, Elmer W. Snyder and Lois P. Snyder created the Elmer W. Snyder Family Trust, naming their children - Janet, Richard, and their brothers Ronald Snyder, Douglas Snyder, and Jeffrey Snyder – as remainder beneficiaries. The trust provided that on the death of the first spouse, the trust assets would be divided into an exemption trust and a survivor's trust. Janet was named the successor trustee of the exemption trust and trustee of two special needs sub-trusts for Jeffrey Snyder who was disabled. After Elmer died in 1993, Lois amended the survivor's trust to name Richard and Janet as successor co-trustees. When Lois died in 2009, Janet distributed $602,094 from the exemption trust, leaving a balance of $195,000. The survivor's trust had $1,436,911 in assets consisting of a Simi Valley residence, a Canoga Park residence, a house and rental in Atascadero, and cash. In 2011, Janet petitioned for instructions to sell the Simi Valley and Canoga Park properties. The trial court ordered Janet to sell the Simi Valley property and Richard the Canoga Park Property. Janet obtained a buyer for the Simi Valley property which sold on…