Security-First National Bank v. Rogers

330 P.2d 811, 51 Cal. 2d 24, 1958 Cal. LEXIS 204
CourtCalifornia Supreme Court
DecidedOctober 24, 1958
DocketL. A. 24527
StatusPublished
Cited by5 cases

This text of 330 P.2d 811 (Security-First National Bank v. Rogers) is published on Counsel Stack Legal Research, covering California Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Security-First National Bank v. Rogers, 330 P.2d 811, 51 Cal. 2d 24, 1958 Cal. LEXIS 204 (Cal. 1958).

Opinion

GIBSON, C. J.

Security-First National Bank, as trustee of an inter vivos trust, instituted an action for declaratory and other relief relating to construction of the trust instrument, administration of the trust, and distribution of income and corpus. The problems involved on this appeal arise solely from the attempted seizure by the Attorney General of the United States, as successor to the Alien Property Custodian, of the interests of certain beneficiaries of the trust and their successors in interest who were residents of Germany. The Attorney General appeals from the parts of the judgment which disposed of these problems adversely to his contentions.

The facts are undisputed. The trust was created in the year 1922 by J. M. Brockman, who reserved a life estate in the trust property and made the following provisions relevant to this appeal. Paragraph 9 provides that after the death of the trustor the Robinson and Brockman buildings in Los Angeles, which the trustee carries on its books at $5,056,540 and $2,176,000 respectively, will be retained in trust to pay the income to 24 named nieces and nephews of the trustor and to the issue and widows of those of them who die, until *27 the death of the last survivor of the 24 named beneficiaries, at which time the two buildings will be distributed to the issue of these beneficiaries. Under paragraph 11 the beneficiaries mentioned in paragraph 9 will, in addition, receive distribution of the corpus of a separate trust fund, created by the instrument in the amount of $200,000, at the death without issue of Mrs. Margaret Thompson, who is to receive the income during her life. Paragraph 13 contains a spendthrift provision and provides as “an express term and condition” of the trust and as “a limitation upon the right, title, interest, estate, income or moneys payable to each and every beneficiary” that his interest shall be payable exclusively to him personally, solely and individually, and the personal receipt therefor from the beneficiary is made a condition precedent to the payment or delivery by the trustee. 1 Paragraph 16 provides that if the trustee shall be “unable, for any reason whatsoever, to pay” any portion of the income or principal to a beneficiary “in accordance with all the express terms of this trust” the trustee shall forthwith convey or deliver such part to the beneficiaries designated in paragraph 9, anything to the contrary in the trust notwithstanding. 2

The trustor died in 1925. Of the 24 beneficiaries named in paragraph 9, the five who were citizens and residents of Germany are all deceased. Three of them left issue now *28 living as citizens and residents of Germany. Seven of the American beneficiaries named in paragraph 9 and Mrs. Margaret Thompson are also still alive. The latter has no issue.

From April 3, 1940, interrupted communications due to war conditions prevented the continuation of payment of trust income to the German beneficiaries, and since that date the trustee has impounded their portions. On June 14, 1941, by the provisions of Executive Order 8389 as amended (see note following § 95a of 12 U.S.C.A.), it became unlawful for the trustee to distribute such income to them; their funds in the United States were “blocked.” When on December 11, 1941, the United States declared war on Germany, the Trading With the Enemy Act (50 U.S.O.A. App. § 1 et seq.) became operative to permit seizure of enemy property. In 1949 and 1952 the Attorney General, under the authority of that act, executed Vesting Orders Nos. 13539 and 19000 respectively, by which he vested in himself for the benefit of the United States “all right, title, interest and claim of any kind or character whatsoever” of the German beneficiaries “in and to and arising out of or under” the Brockman trust. On June 24, 1953, General License Number 101 was issued, releasing property previously blocked under Executive Order No. 8389 but providing that the license would not affect property which had been vested by the Attorney General. (8 C.F.R. (1958), § 511.101.)

The judgment, insofar as pertinent here, declares that the funds impounded prior to June 24, 1953, were distributable to the beneficiaries designated in paragraph 9 other than the German beneficiaries and that the income and corpus impounded or becoming distributable on or after June 24, 1953, should be paid to the beneficiaries, including the Germans, according to the trust instrument.

The language of paragraphs 13 and 16 of the trust instrument leaves no doubt that the trustor intended that they be treated as a unit, and, when so treated, they clearly provide, by means of a gift over to the beneficiaries designated in paragraph 9, for the termination of any interest in the trust or its income which a beneficiary, because of a disability *29 like the one involved here, cannot personally receive at the time the property becomes distributable. It is also clear that the trustor intended that those beneficiaries whose interests are terminated by the operation of paragraphs 13 and 16 would not be entitled to take under the reference in the gift over provision to the persons designated in paragraph 9.

Obviously the requirement of paragraph 13 that payment must be made to each beneficiary “personally, solely and individually” would not be satisfied by a payment to the Attorney General under the vesting orders, Since the vesting orders prevented payment to the German beneficiaries in the manner required by paragraph 13, the gift over provisions contained in paragraph 16 became operative and the rights of the German beneficiaries were terminated. The Attorney General could not acquire as a result of the vesting orders greater rights or interests than those held by the aliens (Estate of Knutzen, 31 Cal.2d 573, 578 [191 P.2d 747]), and when their rights were terminated nothing remained which the Attorney General could obtain. Insofar as concerns the acquisition of the German interests by the government, the vesting orders, which terminated them, were self-destructive.

It is true that paragraph 13 is what is commonly called a spendthrift provision, and it has been held that such a provision, standing alone, will not prevent a vesting order from reaching the interests of beneficiaries of a trust. (Estate of Zuber, 146 Cal.App.2d 584, 596 [304 P.2d 247]; see 2 Scott on Trusts (2d ed. 1956), § 157.4, pp. 1123-1124.) However, our determination that the Attorney General cannot obtain anything from the trust is not based on paragraph 13 alone but, as we have seen, upon the gift over provision contained in paragraph 16 read in conjunction with paragraph 13.

It may be noted that the trust was created in 1922, a few years after the first world war, during which the property of enemy aliens had been seized by the United States Government, and at a time when the collapse of the German currency created a danger of seizure by the German government of the foreign assets of German residents. The trustor, in drafting paragraphs 13 and 16, may thus have had in mind the purpose of avoiding seizure of the interests of the German beneficiaries.

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Bluebook (online)
330 P.2d 811, 51 Cal. 2d 24, 1958 Cal. LEXIS 204, Counsel Stack Legal Research, https://law.counselstack.com/opinion/security-first-national-bank-v-rogers-cal-1958.