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My Petition for Division of Trust
My Probate Court Petition for Division of Trust (click here to view).
June 1,1994 -
CAL.PROB.CODE Sec. 15412 states the following:
"On petition by a trustee or beneficiary, the court, for good cause shown, may divide a trust into two or more separate trusts, if the court determines that dividing the trust will not defeat or substantially impair the accomplishment of the trust purposes or the interests of the beneficiaries. ".
CAL.PROB.CODE Sec. 15412 requires that petitioner show "good cause" for division of the trust. It does not specify what facts constitute good cause. However, the Law Revision Commission Comment, 1990 Enactment ("Law Revision Comment") does give examples of facts which constitute good cause. The Law Revision Commission Comment states:
"Section 15412 continues Section 15412 of the repealed Probate Code without change. This section provides a standard intended to protect the interests of beneficiaries without necessarily requiring their consent. Division of a trust may be appropriate, for example, in a situation where different members of a family desire their own separate trusts because of a disagreement or where a beneficiary has moved to a different part of the country. . . . ".
I wanted a separate trust for myself and family for essentially the same reasons given as examples in the Law Revision Comment. The grounds for division of trust I stated were the following: a) disagreement between the beneficiaries; and, b) my desire to leave California.
Prior to June 1, 1994 I had never been involved in any litigation whatsoever with City National Bank-
After I filed my probate court petition (click here to view copy), City National hired a team of lawyers (Mr. Gifford and Mr. Cafferata) at the rate of $515 per hour (charged to trust funds) to oppose the petition. The legal fees reached $92,559.83 as of May 22,1995.
After the drop in my income came to zero (for payment of the lawyers fees) I filed Chapter 13 bankruptcy in April of 1996.
|The Story in a Nutshell|
|About the FB Trust|
|How It Began|
|How It Began Docs|
|What is a Trust?|
|Spendthrift Trusts Docs|
|Dead Hand Doctrine|
|Duties of a Trustee|
|Vexatious Litigant Statute|
|Bankruptcy Court Issues|
|Unpublished Opinions Issue|
|Public Policy Objections|
|The Five Categories|
|Constitutionality of VLS|
|My Petition for Division of Trust|
|Milking the Trust|
|The 391.7 Hearing|
|Probate Court Hearings Transcripts|
|The Clincher - "no reasonable probablity" of success|
|The 128.5 Hearing|
|US Bankruptcy Court|
|Judge Letteau Docs|
|CN Violates the Automatic Stay|
|US District Court I|
|U.S. District Court II|
|US 9th Cir Court I|
|US 9th Cir Court II|
|Diane Watson Letters|
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