Lowry
Title Insurance & Trust Co. v. Lowry
Opinion
Lead Opinion
Ford, J.
Appellant Lúcela C. Lowry, the former Lúcela Gregg, is the sole income beneficiary of a marital trust created under the will of *884 her deceased husband, John D. Gregg. Respondent Title Insurance and Trust Company, the trustee of the marital trust, petitioned the probate court for an order instructing it to allocate payments received under the Bartolo contract, the major asset of the marital trust, to principal of the trust rather than to income.
A hearing was had on respondent’s petition. It was stipulated by the parties that certain documents be received in evidence. The probate court determined that “[a]ll payments from ‘Bartolo Contract’ are to be treated as principal for purposes of the administration of the Marital Trust.” Findings of fact and conclusions of law were filed and an “Order, Judgment and Decree” was entered on March 20, 1975. Notice of appeal therefrom was filed by the objector to the trustee’s petition, appellant herein, Lúcela C. Lowry.
The trial court’s findings of fact are summarized herein (the numerical order of the findings being changed herein). The trial court found that:
1. Appellant’s husband, John D. Gregg (hereinafter Gregg), was…