Smith v. Lorenz

Citations

• 124 Cal. 495
• 57 P. 381
• 1899 Cal. LEXIS 1022

Syllabus

<p>Trust under Will—Discretionary Power over Profits—Stipulation of Beneficiaries—Consent to Decree of Distribution—Appeal.— Where the beneficiaries of a trust created by will, giving discretionary power to the trustee over the disposition of the profits of the trust estate, stipulated for a decree of distribution to the trustee requiring him absolutely, without discretion, to pay the profits or interest on the trust funds to the beneficiaries at stated periods, the decree, showing upon its face a valid trust, will not be reversed upon appeal at the instance of the parties consenting thereto, on the ground that the trhst declared in the will is invalid; nor can they complain of error in the decree in departing from the terms of the will which was induced by themselves.</p>