California Court of Appeal
60 Cal.Rptr.2d 217 (1997)
Amelia Huston executed a power of attorney designating John Amberg as her attorney-in-fact. The power of attorney stated that Amberg could not make gifts to himself. Huston directed Amberg to purchase, on her behalf, a $90,000 annuity, payable to Amberg upon her death, which he did purchase. After Huston’s death her will was admitted to probate, and Amberg was appointed executor of the will. Amberg later discovered that upon maturity the annuity terms stated that it would pass to the estate’s residuary beneficiaries. Amberg (plaintiff) filed a petition to transfer the annuity to himself. Huston’s niece, Mary Deonne Greene, and two other residuary beneficiaries (defendants) objected. The trial court held that the estate should hold the annuity in a resulting trust for Amberg’s benefit, and Greene appealed.
Rule of Law
Holding and Reasoning (Ward, J.)
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