Summary
The Florida Third District Court of Appeal affirmed summary judgment determining that trust assets vested in the named grandson upon the settlor's death, even though distribution had not been completed before the grandson died. The court held that the grandson's estate retained its interest in the undistributed trust assets and also affirmed a related non-final order concerning liquidation of an estate asset.
Topics
Practice areas
Questions Presented
- Whether the trust provision vested the trust assets in Bizzell at Bryan's death or only when the assets were physically distributed.
- Whether the trial court properly entered summary judgment based on the unambiguous language of the trust.
- Whether the subsequent non-final order directing liquidation of an estate asset should be affirmed.
Holdings
- The trust provision vested the trust assets in Bizzell upon Bryan's death because Bizzell was living at that time and satisfied the trust's explicit survivorship requirement; his later death did not divest his estate of the remaining trust assets.
- Summary judgment was proper because the parties agreed the trust provision was unambiguous and its legal effect could be determined as a matter of law.
- The court affirmed the non-final order directing liquidation of an asset of the Bryan estate.
Key quotations
“The polestar of trust or will interpretation is the settlor's intent.” (959 So. 2d at 317)
“Given these legal principles, we find that the language of the Trust provision can only have the legal effect of vesting the trust assets in Bizzell upon Bryan's death.” (959 So. 2d at 318)
Factual background
Charles L. Bryan executed a revocable living trust providing that, upon his death, the remaining trust principal and income would be distributed to his grandson, Robert R. Bizzell, if Bizzell was living at the time of distribution. Bryan died in 2001, and Bizzell became personal representative of the estate and co-trustee of the trust, beginning distributions to himself. Bizzell later died intestate before all trust assets had been distributed, and his half-sister, Victoria Dethlefs, claimed that the remaining assets had already vested in Bizzell and therefore belonged to Bizzell's estate.
Procedural history
Bryan's grandson, Robert R. Bizzell, was appointed personal representative of Bryan's estate and co-trustee of Bryan's revocable living trust. After Bizzell died intestate while trust distributions were incomplete, Dethlefs sought judgment on the pleadings or summary judgment, arguing that the trust assets vested in Bizzell at Bryan's death and became part of Bizzell's estate. The trial court entered summary judgment for Dethlefs and later ordered liquidation of an estate asset; the District Court of Appeal affirmed both orders.