Nature of Proceedings: Motion: Summary Judgment/Adjudication; Case Management Conference
Plaintiff Randolph Galt is one of the beneficiaries of the H.M. Mosher Trust, a “directed” trust established by plaintiff’s grandfather, Henry Mosher, in 1938. A directed trust is a type of trust in which a manager (or managers) has the authority to direct the trustee regarding the control, management, and distribution of the trust estate. The powers and duties of the trustee of a directed trust are limited to holding legal title to the trust property and carrying into effect any written instructions given to it by the manager. Henry Mosher’s son, Samuel Mosher, was the original trustee of the H.M. Mosher Trust. In 1970, Bank of America, N.A. succeeded Samuel Mosher as trustee and in 1987 defendant Wells Fargo Bank, N.A. became trustee when it acquired the trust department of Bank of America. Defendant Cindy Pettit is a senior trust officer at Wells Fargo and the head of its trust de
Hearing Date
February 21, 2014
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Nature of Proceedings: Motion: Summary Judgment/Adjudication; Case Management Conference
Plaintiff Randolph Galt is one of the beneficiaries of the H.M. Mosher Trust, a “directed” trust established by plaintiff’s grandfather, Henry Mosher, in 1938. A directed trust is a type of trust in which a manager (or managers) has the authority to direct the trustee regarding the control, management, and distribution of the trust estate. The powers and duties of the trustee of a directed trust are limited to holding legal title to the trust property and carrying into effect any written instructions given to it by the manager. Henry Mosher’s son, Samuel Mosher, was the original trustee of the H.M. Mosher Trust. In 1970, Bank of America, N.A. succeeded Samuel Mosher as trustee and in 1987 defendant Wells Fargo Bank, N.A. became trustee when it acquired the trust department of Bank of America. Defendant Cindy Pettit is a senior trust officer at Wells Fargo and the head of its trust de