San Pasqual Fiduciary Trust Co. v. Holt
This court has before it several appeals arising from a long drawn out dispute between the beneficiaries of a family trust formed in 1973. This appeal concerns a challenge to the probate court’s order granting the interim trustee’s petition for instructions about what conditions, if any, should be placed on the required distribution of one-half of the trust’s principal to beneficiary David M. Denholm (Denholm), in light of the over $5 million civil judgment Denholm may owe the trust if he loses his appeal challenging that judgment. We affirm the probate court’s order holding (1) Denholm had a vested interest in 50 percent of the trust assets, which will include the civil judgment entered in Clunies A. Holt, et al. v. David M. Denholm, et al. (Super. Ct. No. 06CC12290) (hereafter the Civil Action), and (2) the distribution of those assets must be made whenever the remittitur issues in the pending appeal of the Civil Action.
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