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VALLEY BANK OF NEVADA v. NEUHOFF

No. 15798.

729 P.2d 1346 (1986)

VALLEY BANK OF NEVADA, as Trustee of the Trust Estate of Sally Cord Hummel; First Interstate Bank of Nevada, as Trustee of the Trust Estate of Nancy Cord Phelps; U.S. National Bank of Oregon, Successor Trustee of the Trust Estate of Susan Cord Periera; and Citibank, N.A., Successor Trustee of the Trust Estate of Chris Cord, Appellants and Cross-Respondents, v. Edward D. NEUHOFF and Charles E. Cord, Co-executors of the Estate of E.L. Cord, aka Errett L. Cord, aka Errett Loban Cord, Deceased, Respondents and Cross-Appellants.

Supreme Court of Nevada.

December 18, 1986.

Attorney(s) appearing for the Case

Guild, Hagen & Clark, Fahrenkopf, Mortimer, Sourwine, Mousel & Sloane, Reno, Conner & Steinheimer, Reno, Jones, Mahoney & Brayton, Newport Beach, Cal., for appellants and cross-respondents.

Bradley & Drendel, Reno, for respondents and cross-appellants.

Allison, Brunetti, MacKenzie, Hartman, Soumbeniotis & Russell, Carson City, for amicus curiae.

OPINION

PER CURIAM:

E.L. Cord died testate on January 2, 1974. By his will, he left five million dollars to trust estates previously established for the benefit of his children, grandchildren and daughter-in-law. Payment in cash, securities, or a combination of these was permitted, and no interest was to be paid on the bequest. The will further provided for the continuation of Mr. Cord's businesses, with their profits and losses charged to his estate. By...

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