Craft's Estate, In re, 74--1282
| Decision Date | 10 October 1975 |
| Docket Number | No. 74--1282,74--1282 |
| Parties | In re ESTATE of James E. CRAFT, Deceased. |
| Court | Florida District Court of Appeals |
Larry Klein of Cone, Wagner, Nugent, Johnson & McKeown, West Palm Beach for appellants, Thomas Craft, Executor of the Estate of James E. Craft and The First National Bank of Bluefield, Bluefield, W. Va.
Joseph D. Farish, Jr. and Robert V. Romani, of Farish & Farish, West Palm Beach, for appellees, Paul E. Craft and Jerry Elliot Craft.
Upon consideration of the briefs and oral argument and after examination of the record on appeal we are of the opinion that the trial court erred in determining that the inter vivos trust created by decedent was invalid.
It has been held that in order to constitute a valid trust (in personalty) three circumstances must occur: sufficient words to raise it; a definite subject matter; and a certain and ascertained object. Bay Biscayne Co. v. Baile, 73 Fla. 1120, 75 So. 860 (1917); Grapes v. Mitchell, 159 So.2d 465 (Fla.1963); Fraser v. Lewis, 187 So.2d 684 (Fla.App.1966). It has further been held that a trust may be created by deed or may rest entirely in parol or may be partially in writing and partially in parol. Bay Biscayne Co., supra; Grapes v. Mitchell, supra; and Fraser v. Lewis, supra.
A review of the record reflects the existence of sufficient evidence to give rise to the establishment of a valid trust consistent with the foregoing principles. The words giving rise to the trust are reflected in a will and trust indenture executed by decedent on November 7, 1969, mailed to the trustee bank on November 8 and received by them on November 10. Further indication of the sufficiency of the words to create the trust is reflected by a telephonic conversation between decedent and a trust officer of the trustee bank on November 5, 1969, directing the cancellation of an old trust and the creation of the new one, and a letter of confirmation written by decedent to the trustee bank on November 8, 1969 pursuant to which the bank transferred the assets on its books on November 13, 1969.
The object of the trust is clearly reflected in the trust's indenture as being for the purpose of providing an education for the children and grandchildren of the decedent.
The subject matter of the trust (eight shares of corporate stock from a block of 78 shares previously held by the trustee bank in a prior trust of the decedent) was in existence...
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Estate of Pearce, In re
...or may be partially in writing and partially in parol, provided the words employed are sufficient to create a trust. In re Estate of Craft, 320 So.2d 874 (Fla. 4th DCA 1975), cert. denied, 336 So.2d 105 (Fla.1976); Fraser v. Lewis, 187 So.2d 684 (Fla. 3d DCA The parol evidence in this case ......
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...a trust. In re Estate of Pearce, 481 So.2d 69 (Fla. 4th DCA 1985), review denied, 491 So.2d 280 (Fla.1986); see also In re Estate of Craft, 320 So.2d 874 (Fla. 4th DCA 1975), cert. denied, 336 So.2d 105 (Fla.1976); Fraser v. Lewis, 187 So.2d 684 (Fla. 3d DCA 1966). Kahn's written inter vivo......
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In re G & R Builders, Inc.
...an intent to create a trust, a definite subject matter, and a certain and ascertained object, or named beneficiary. In re Estate of Craft, 320 So.2d 874 (Fla. 4th DCA 1975); see also Bay Biscayne Co. v. Baile, 73 Fla. 1120, 75 So. 860 (1917). A "resulting trust" requires the same three elem......
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Clalit Health Services v. Israel Humanitar. Found., 02 Civ. 6552(DC).
...159 So.2d 465, 469 (Fla.1963) (explaining that for trust to be valid it must have "a definite subject matter"); In re Craft's Estate, 320 So.2d 874, 875 (Fla. 4th DCA 1975) (same); Fraser v. Lewis, 187 So.2d 684, 687 (Fla. 3d DCA 1966) (same);13 see also Black's Law Dictionary 1509 ed.1990)......