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Wills, Trusts & Estates Keyed to Bonfield
Estrada v. Arizona Bank
Citation:
732 P.2d 1124 (Ariz. Ct. App. 1987)Facts
Following the 1967 death of the plaintiff’s mother in a car accident, a wrongful death settlement of $99,161.54 was placed in a trust established by the Cochise County Superior Court, naming the Arizona Bank as trustee and the plaintiff, then a minor, as the sole beneficiary. Originally set to terminate at age 21, the trust was modified in 1976 to end at age 18, aligning with Arizona’s revised age of majority. The court required the trustee to file annual accountings under conservatorship statutes, which were submitted and approved from 1976 through 1982 without objection. A final accounting and distribution occurred upon the plaintiff’s 18th birthday in 1982, with the plaintiff acknowledging receipt of distributions. Following court approval of the final distribution, the Arizona Bank was discharged as trustee without any objections filed.
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