Seltzer v. Schroeder

409 S.W.2d 777, 1966 Mo. App. LEXIS 526
CourtMissouri Court of Appeals
DecidedDecember 5, 1966
Docket24485
StatusPublished
Cited by9 cases

This text of 409 S.W.2d 777 (Seltzer v. Schroeder) is published on Counsel Stack Legal Research, covering Missouri Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Seltzer v. Schroeder, 409 S.W.2d 777, 1966 Mo. App. LEXIS 526 (Mo. Ct. App. 1966).

Opinion

BLAIR, Judge.

This is an action for a declaratory judgment filed by Samuel L. Seltzer, as trustee under a trust agreement, invoking the equity power of the Circuit Court of Buchanan County to declare his authority and duty as trustee by adjudging the distribution he should make of funds held by him pursuant to the trust agreement and funds to come into his possession as trustee under that agreement in the future. *780 The record does not affirmatively disclose that the amount in dispute, independent of all contingencies, is in excess of $15,000.00 and we may not indulge in speculation or conjecture that it does exceed that amount, for a mere chance that it may does not oust our jurisdiction and vest jurisdiction in the Supreme Court. We have jurisdiction. Sec. 477.040, V.A.M.S.; Jackson County Public Water Supply Dist. No. 1 v. Ong Aircraft Corp., Mo., 388 S.W.2d 893; Warmack v. Crawford, Mo., 192 S.W.2d 406; McCaskey v. Duffley, 335 Mo. 383, 73 S.W. 2d 188; 8 Mo.Digest, Courts,

As we view this controversy, there is no need to summarize the pleadings. A recital of the facts we deem relevant and rulings on the contentions of the parties will present the questions on this appeal adequately. Anna K. Craig died in 1948 in Chicago, Illinois. By her last will and testament she made eight specific bequests of personalty, each to a different person. By the residuary clause of her will she bequeathed and devised “all of the rest, residue and remainder of my estate, of every kind or nature whatsoever, wheresoever situated,” * * * “unto James Mattalina, of Chicago, Illinois, his heirs and assigns forever, in appreciation for the many years of faithful services and the many kindnesses extended to me by him.” James Mattalina was her chauffeur and by this residuary clause he was given the bulk of her estate consisting of substantial personal property and a large number of tracts of real estate in Illinois, Missouri, Kansas, Texas and Oklahoma. Anna Niemer and Guy Barr, as heirs at law of Anna Craig, commenced a suit in Chicago, Illinois, to set aside the will of Anna K. Craig.

On December 18, 1948, Anna Niemer, Guy Barr and James Mattalina entered into a “Settlement Contract” in order “to settle, compound and compromise said suit and to agree upon a distribution of the net assets of the estate of Anna Craig.” By the terms of this settlement contract it was agreed that the personal property of Anna K. Craig should be reduced to cash and after payment of specific legacies, taxes, administrative costs and other expenses, the remainder was to be divided into two shares. Anna Niemer and Guy Barr received one-half of the remainder plus $3,000.00 as their share and James Matta-lina received what then remained as his share. The settlement contract further provided that James Mattalina would convey in trust to Samuel L. Seltzer, as Trustee, “all of the real estate owned by Anna Craig at the date of her death and devised to James Mattalina” by the residuary clause of her last will and testament. All of the real estate owned by her at the date of her death had been devised by her residuary clause to James Mattalina and thus all of her real estate was to be placed in the trust. The life of the trust was to be three years. During the life of the trust the trustee was to be given authority to “collect the rents, issues and profits” from the real estate and to lease it or to sell any parcel of it with the consent of the beneficiaries and at the expiration of the trust he was required to sell all of the real estate then remaining after due notice in writing to the beneficiaries. During the life of the trust, and after its expiration, the trustee was to distribute the “proceeds and avails” of the trust, “whether of income or principal”, to the beneficiaries in the following proportions: James Mattalina, %ths; Arthur Abraham (his attorney), ⅜⅛; Anna Niemer, ¼⅛ and Guy Barr, V4Ü1. It was agreed that the suit contesting the will of Anna Craig would be dismissed upon the execution of the trust agreement by James Mattalina.

On December 20, 1948, just two days after the execution of the settlement contract, James Mattalina by several deeds conveyed to Samuel L. Seltzer, as Trustee, all of the real estate of Anna Craig as required by the settlement contract. The trust agreement prescribed by the settlement contract was executed on that same day in accordance with its terms. In the outset the trust agreement recited that it was executed pursuant to the terms and *781 conditions of the settlement contract which “settles and determines the issues raised” by the suit which had been brought to contest the will of Anna Craig. Later in Article Sixth the trust agreement declared that the trust was being created by the donor in compliance with the terms of the settlement contract previously referred to in the outset-of the trust agreement and that the trust was created for the express purpose of bringing about an orderly liquidation of the real estate conveyed by Mat-talina to Seltzer in trust and a division of the “proceeds and avails” of such real estate according to the terms of the settlement contract. ■ It was provided that no beneficiary of the trust had any right or title to any part of the real estate but only an interest in the earnings, avails and proceeds of the trust. The rights of the beneficiaries were to “be deemed to be personal property and assigned and transferred as such”. There was also a provision that in the event of the death of any of the beneficiaries his or her share should be paid to “his or her executor, administrator or assigns.”

Subsequently on April 19, 1951, an amendment to the trust agreement was executed by all of the interested parties. After reaffirming the original settlement contract and reciting that the trust agreement had been entered into pursuant to its terms and conditions, the amendment substantially reiterated the terms of the trust agreement, provided for an extension of the life of the trust and declared: “In the event of the death of any of said persons herein named as beneficiaries, that share to which such deceased beneficiary would have been entitled, had he or she survived, shall be distributed by the Trustee to such person or persons as such deceased beneficiary shall by his or her Last Will and Testament in writing appoint, and in default of such appointment, to those persons who are entitled to the personal estate of such deceased beneficiary under the statutes of descent in force and effect in that state of which such deceased beneficiary was a resident at the time of his or her death.”

By the express terms of both the trust agreement and its amendment all beneficiaries were given the right to “sell, assign and transfer his or her interest” in the trust. The only limitation on this right was one for the protection of the trustee. It was required that the instrument of sale, assignment and transfer be “in a form satisfactory to the trustee” and that it should not be effective or binding upon the trustee until the original instrument, with the signature properly identified and guaranteed, was furnished to the trustee, together with the name and address of the purchaser.

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Bluebook (online)
409 S.W.2d 777, 1966 Mo. App. LEXIS 526, Counsel Stack Legal Research, https://law.counselstack.com/opinion/seltzer-v-schroeder-moctapp-1966.