Moore v. Jones, No. 7811SC227
| Docket Nº | No. 7811SC227 |
| Citation | 44 N.C.App. 578, 261 S.E.2d 289 |
| Case Date | January 15, 1980 |
| Court | Court of Appeal of North Carolina (US) |
Page 289
v.
E. Craig JONES, Jr., as Trustee of the "Ramie L. Moore Trust
Fund," E. CraigJones, Jr., as Executor of the Estate of
Ramie Lawrence Moore, Mount OliveCollege Incorporated,
Branch Chapel Free Will Baptist Church, Selma Troop # 32of
the BoyScouts of America, Percy L. Moore, J. Allie Moore,
Effie J. Davis, Elizabeth M.Lynch, Joseph A. Moore, Jr.,
Frances T. Moore, James L. Creech and Clarence M.Moore.
Young, Moore, Henderson & Alvis by B. T. Henderson, II, and R. Michael Strickland, Raleigh, for plaintiff-appellee.
Corbett & Corbett, by Albert A. Corbett, Jr., Smithfield, for defendants-appellants.
E. Craig Jones, Jr., Selma, Executor and Trustee, defendant-appellant, pro se.
Page 291
PARKER, Judge.
In this State a valid trust may be created even though the settlor retains both a life estate and the power to revoke or modify the trust. Moreover, the coupling of such retained rights and powers in an otherwise valid Inter vivos trust will not invalidate the trust as an attempted testamentary disposition when, as here, the trust instrument was not executed in the manner required for execution of a valid will. Ridge v. Bright, 244 N.C. 345, 93 S.E.2d 607 (1956). Here, there was a written trust agreement signed and acknowledged both by the settlor and the trustee. [44 N.C.App. 581] This instrument unequivocally expressed the settlor's intention to create a trust. The trust, consisting of stocks, bonds, and cash deposits, was clearly identified and was transferred into the custody of the trustee. The duties and powers of the trustee with respect to the trust assets were expressly defined. The beneficiaries were clearly designated and their respective interests were expressly set forth. Thus, the trust met all prerequisites for a valid trust under the laws of this State. See Finch v. Honeycutt, 246 N.C. 91, 97 S.E.2d 478 (1957); Starling v. Taylor, 1 N.C.App. 287, 161 S.E.2d 204 (1968). Therefore, we agree with the trial court's conclusion that the trust was valid. The question remains as to its effect upon plaintiff's rights as surviving spouse granted her under Article 1 of G.S. Ch. 30.
The statutory right to dissent granted the surviving spouse is defined by G.S. 30-1 which reads in pertinent part:
(a) A spouse may dissent from his deceased spouse's will in those cases where the aggregate value of the provisions under the will for benefit of the surviving spouse, when added to the value of the property or interests in property passing in any manner outside the will to the surviving spouse as a result of the death of the testator:
(2) Is less than one half of the...
To continue reading
Request your trial
-
Briggs v. Wyoming Nat. Bank of Casper, Nos. 91-106
...until his death the same rights in the assets of the trust after creating it that he had before its creation. See e.g., Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289 (1980); Newman v. Dore, 275 N.Y. 371, 9 N.E.2d 966 Seifert v. Southern Nat. Bank of South Carolina, 409 S.E.2d 337, 338 (S.......
-
In re Estate of Amundson, No. 21015
...grantor defeated spousal elective share by removing property from estate while retaining control over assets in trust); Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289, 292 (1980) (finding trust invalid where settlor retained powers over trust assets so extensive that he retained same right......
-
Estate of Francis, Matter of, No. 342PA89
...to the funds in the trust account held includable in the net estate in determining the right to dissent in the case of Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289 (1980). In the instant case, the Court of Appeals rested its decision on public policy grounds, as did the court in Page 157......
-
Matter of Estate of Amundsun, 21015
...grantor defeated spousal elective share by removing property from estate while retaining control over assets in trust); Moore v. Jones, 261 S.E.2d 289, 292 (N.C.Ct.App. 1980)(finding trust invalid where settlor retained powers over trust assets so extensive that he retained same rights afte......
-
Briggs v. Wyoming Nat. Bank of Casper, Nos. 91-106
...until his death the same rights in the assets of the trust after creating it that he had before its creation. See e.g., Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289 (1980); Newman v. Dore, 275 N.Y. 371, 9 N.E.2d 966 Seifert v. Southern Nat. Bank of South Carolina, 409 S.E.2d 337, 338 (S.......
-
In re Estate of Amundson, No. 21015
...grantor defeated spousal elective share by removing property from estate while retaining control over assets in trust); Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289, 292 (1980) (finding trust invalid where settlor retained powers over trust assets so extensive that he retained same right......
-
Estate of Francis, Matter of, No. 342PA89
...to the funds in the trust account held includable in the net estate in determining the right to dissent in the case of Moore v. Jones, 44 N.C.App. 578, 261 S.E.2d 289 (1980). In the instant case, the Court of Appeals rested its decision on public policy grounds, as did the court in Page 157......
-
Matter of Estate of Amundsun, 21015
...grantor defeated spousal elective share by removing property from estate while retaining control over assets in trust); Moore v. Jones, 261 S.E.2d 289, 292 (N.C.Ct.App. 1980)(finding trust invalid where settlor retained powers over trust assets so extensive that he retained same rights afte......