Swarth

Southern California First National Bank v. Swarth

Good Law
108 Cal. Rptr. 522·1973 Cal. App. LEXIS 1024·32 Cal. App. 3d 862·60 A.L.R. 3d 123
Court of Appeal of CaliforniaJune 11, 1973Civ. No. 11389California7,706 words

Opinion

Lead Opinion

Whelan, J.

There are four separate appeals from a judgment directing Southern California First National Bank, as trustee of trusts created by the *866 decree of 'distribution in the estate of Willard S. Wood, to distribute the assets of one of the trusts in accordance with an appointment made by Florence Wood, widow of Willard S. Wood and donee of a power to appoint those assets.

The controversy arises out of the question whether the power of appointment given Florence Wood by her husband’s will was exercised, and, if so, in whose favor it was exercised.

The will of Willard S. Wood, executed August 18, 1964, and admitted to probate after his death on May 27, 1967, disposed of all the community property of the spouses. Mrs. Wood had elected to take under the will and waived all claims to any share of the community property.

The will directed that the residue of his estate be divided into two trusts, Trust “A” and Trust “B.” Mrs. Wood was named life beneficiary under both trusts and was given a general inter vivos power of appointment over Trust “A” as follows: “Anything herein to the contrary notwithstanding, if my wife survives me, then she shall have the absolute power…

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