In re Salkin

MEMORANDUM! DECISION AND ORDER

John P. Pringle, duly appointed and acting chapter 7 trustee (the “Trustee”) of the bankruptcy estate (the “Estate”) of debtor Ellen L. Saltón (“Ms. Saltón”) moves for entry of an order (the “Motion”) compelling Ms. Saltón to turn over to the Trustee the original of a Promissory Note Secured by Deed of Trust dated October 19, 2001 (the “Note”). The Note, issued by the First Church of Christ, is owned and held *33 (and has always been held and owned) by the Saltón Family Trust, a trust created more than 30 years ago on June 8, 1984 (the “Trust”). The Note’s original principal amount was $165,000 and is payable to the Trust in equal consecutive monthly installments of $1,273.50 (which includes interest at a rate of 8 percent per annum). The final payment is due November 14, 2026.

The Saltón Family Trust was formed by Marshall A. Saltón (“Mr. Saltón”) and Ms. Saltón, husband and wife, as settlors. Mr. Saltón and Ms. Saltón (jointly, the “Sal-kins”) served as co-trustees of the Trust from the time of the Trust’s formation in 1984 until the death of Mr. Saltón on December 22, 2011. Upon Mr. Salkin’s death, Ms. Saltón became the sole trustee. During the…