Wood v. Honeyman

169 P.2d 131 (1946)

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Nature of the Case

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Facts

Colonel Wood, the settlor, and those who signed the writing did not make a gift to D of the $15,000 fund by signing the trust paper. The document refers to D as the trustee and repeatedly uses the word trust. Although the legal title to the fund was in D, the beneficial interest was not in him but the three beneficiaries. D was given discretion concerning the investment of the trust. Based on his violation of trust duties, the trial court removed D, held him liable for conversion and denied him payment for services. This appeal resulted.