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PICKETT v. REPUBLIC NAT. BANK OF DALLAS

No. 1303.

601 S.W.2d 405 (1980)

Jimmy D. PICKETT, R. G. Carter, and Frank J. Davies as Co-Executors of the Estate of Claire Benz-Stoddard, Deceased, and as Trustees of the Vaughan Benz Ayers Trust and the Allan Benz Trust v. REPUBLIC NATIONAL BANK OF DALLAS, Trustee.

Court of Civil Appeals of Texas, Tyler.

Rehearing Denied May 29, 1980.

2nd Motion for Rehearing Denied on July 3, 1980.

Attorney(s) appearing for the Case

Lee M. Taft, Carter, Jones, Magee, Rudberg, Moss & Mayes, Dallas, for appellants.

David S. Kidder, Gerald H. Grissom, Thompson, Knight, Simmons & Bullion, Dallas, for appellee.

McKAY, Justice.

This is an appeal from a summary judgment granted in favor of appellee Republic National Bank of Dallas, Texas.

On September 9, 1955, J. B. Stoddard and Claire Benz-Stoddard created a spendthrift trust and conveyed to it certain oil and gas leases in the Columbus Field Unit in Colorado County, Texas. In the assignment the settlors reserved 65% of the production payments for themselves and assigned...

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