Silvey v. Hodgdon

Citations

• 52 Cal. 363

Syllabus

<p>Enforcement of Trust by Court of Equity.—If a person who desires to procure an insurance on his life for the benefit of his children makes a parol contract with another, by which the former is to pay the premiums and the policy is to be made payable to the latter, who is to hold it in trust for the children, and collect and hold the proceeds in trust for them, a Court of Equity will enforce the trust; and if the trustee is an improper person to receive the money and execute the trust, will remove him and appoint another.</p> <p>Idem.—Such trust should be clearly and distinctly proved; but may be proved by parol evidence.</p>