In the matter of: Jean I. Willey Trust

This was an action for approval of accounting and termination of a testamentary trust. Jean I. Willey, the testator, had four sons: Todd, Mark, Scott, and Dale. Todd, filed a motion seeking approval of the trust accounting and the termination of Mark's supplemental needs trust, the corpus of which, according to Todd, was reduced to around $5,000 and should be turned over to Mark (via his guardians). The petition to approve the accounting and terminate the trust was opposed by Mark and Scott, together with Scott's wife (collectively, the "Objectors"). The Objectors made three objections to the Petition to Terminate the Estate: the gift of money from Jean to Todd during her lifetime worked an ademption on the bequest to Todd of a portion of the residue of Jean's estate; Jean's real property, which passed to the four brothers as co-tenants, and which was informally managed as a rental property for several years by Dale, generated more income than had been distributed to the brothers; and the language in the will which they construed as creating in Jean's real property a life estate for Mark. The court denied all of the Objector's objections and granted the Trustee's Petition to Approve the Accounting and the Dissolution of the Trust. The court also held that the trustee should submit a form of order consistent with the opinion within thirty calendar days. View "In the matter of: Jean I. Willey Trust" on Justia Law