Estate of Jones

BACKGROUND

In 1999, decedent established, and later restated, the Charles A. Jones Trust (trust) and named Spencer successor trustee. The property — where decedent had operated a mortuary — was the trust’s principal asset. In 2006, decedent married Grays-Jones, but he did not amend the trust to include her. In 2017, decedent entered into an agreement to sell the property to Calvano Development, Inc. (CDI), a real estate developer, for $13.6 million. The decedent died shortly thereafter, while the property was in escrow. Spencer became successor trustee. A few months later, Grays-Jones petitioned for an interest in decedent’s estate as an omitted spouse (Prob. Code, § 21610). In 2019 — and while the property was still in escrow — Grays-Jones and Spencer, as trustee, reached a settlement. They agreed the trust “shall pay to [Grays-Jones] a total of $3,000,000 . . . as her full and final settlement of [Grays-Jones’s] interest in the Estate. Payment of said amount shall be paid to [Grays-Jones] out of the escrow from the sale of the [property].” The parties also agreed Grays-Jones would move out of decedent’s residence in exchange for $150,000, which would constitute “an advance…