[Download] "Erickson v. Bank of California" by Supreme Court of Washington * eBook PDF Kindle ePub Free

July 02, 2021

eBook details

Title: Erickson v. Bank of California
Author : Supreme Court of Washington
Release Date : January 15, 1982
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 61 KB

Description

The trustee in bankruptcy for George Leslie Schafer appealed a summary judgment of the trial court dismissing his complaint, which attempted to reach the bankrupts interest in the assets of a spendthrift trust. The cotrustees of the trust refused to submit to an accounting of Schafers interest in the trust. The Court of Appeals set aside the trial courts summary judgment dismissal and remanded for a factual determination of whether the withholding of payment to the creditors was an abuse of the cotrustees discretion in denying payments for "necessities". In doing so, the Court of Appeals held that RCW 30.30.120 was not intended to restrict the common law as it relates to spendthrift trusts and that a spendthrift trust does not vest by operation of law in the trustee in bankruptcy under section 70(a)(5) of the former Bankruptcy Act. Erickson v. Bank of Cal., 28 Wash. App. 337, 623 P.2d 721 (1981).