Q: what is ment by a "Bixby Trust"?
A: A “Bixby Trust” is a type of spendthrift trust instrument. It is written as irrevocable but is not intended to create remainder interests in the Trustor’s heirs at law. In words, the Trustor is the sole beneficiary. For that reason, the Trust is subject to termination by the Trustor. In these instruments a trust is created by the trustor, with the income to be paid to the trustor for life, and on his death the corpus of the Trust is to be distributed to the heirs of the trustor under the laws of intestate succession in effect at the time of his death. The Court has ruled that this does NOT create a remainder in the trustor's heirs.
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A: I've never heard of a "Bixby Trust" although there is a 1949 California Supreme Court case regarding spendthrift trusts in which the plaintiff's name was Bixby. See it here: https://caselaw.findlaw.com/ca-supreme-court/1796531.html
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