Taylor

Union Bank v. Taylor

Good Law
1970 Cal. App. LEXIS 1304·6 Cal. App. 3d 16·85 Cal. Rptr. 474
Court of Appeal of CaliforniaMarch 26, 1970Civ. No. 35179California2,639 words

Opinion

Lead Opinion

Cobey, J.

James Marshall Taylor and Margaret Elizabeth Taylor Cave, the beneficiaries of two testamentary trusts created by the will of their father, Reese H. Taylor, deceased, appeal from those portions of an order entered February 24, 1969, allowing the co-trustee of the trusts, Union Bank, additional compensation in the amounts of $6,900 and $6,790, chargeable against their respective trust estates.

This additional compensation represented essentially the difference between compensation at the rate of % of 1 percent of the reasonable value of the trust.estates, the claimed customary rate of compensation awarded by the trial court generally, and the Va of 1 percent specified in both the will and decree of distribution which had become final several years previously. It was also approximately the same rate of compensation as the court had approved in the settlement of the second account. This settlement had been uncontested and covered 1965.

The bank sought this additional compensation in a separate petition. Its petition was granted over the written objections of the two beneficiaries *19 that the additional compensation was in excess of that specified in the will as…

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