Estate of Bourke

Citations

• 6 Coffey 45

Syllabus

<p>Will—Invalid Trust.—A Bequest of All the Testator’s Property in trust, to convert the estate into cash and keep the proceeds invested and to pay the income thereof and such portion of the principal as may be necessary “until such time as the youngest of my two said children would, if alive, have reached the age of twenty-five .years, at which time the remainder of my estate shall be, divided equally between my two said children, or if one be dead, then to the-survivor of them,” creates a trust for a term of years and is invalid, being in violation of section 716 of the Civil Code of' California, as it is possible in such case that the power of alienation is suspended by limitation for a longer period than during the continuance of lives of persons in being.</p> <p>Trust Void Because Discretionary.—A Trust Directing the Estate to be converted into cash and for the trustee to keep the proceeds invested and which directs that it “shall pay the income therefrom and such portion of the principal thereof in case such payment be necessary in its judgment” is void because it is discretionary and not imperative upon the trustee as to what it shall do. . It substitutes the judgment of the trustee for the judgment of the! testator.</p> <p>Trust—Foreign Corporation must Comply With Laws to Act as Trustees.-—A foreign corporation, before it can be authorized to act as a trustee of an estate in this state, must comply with all of the laws of the state of California relative to trust corporations, the same as a resident corporation.</p>