Floyd
Floyd v. Davis
Opinion
Lead Opinion
Garoutte, J.
This action was brought by the plaintiffs, as surviving trustees of the James Lick trust, against the various beneficiaries under the trust deed, for two purposes: 1. That the accounts of the trustees might be examined, allowed, and settled, and their administration of the trust sanctioned; 2. That they might have the permission of the court to pay over to the California Academy of Sciences and the Society of California Pioneers, residuary donees, a part of what would in the end be coming to them. This application involved a modification of a prior decree, which had declared that no money or property was to be paid or transferred to the residuary donees until the preceding trusts should have been fully executed and performed; and arose from the fact that by the sale of the Lick House property in October, 1888, the trustees had become possessed of .ample funds to complete all the prior trusts, and to pay over to the residuary donees a large part of what would be coming to them.
The various beneficiaries named in the trust deed appeared by answer and cross-complaint, and the trial resulted in a decree of the court settling the accounts of the trustees up to the sixth day of…