Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-10-15
HEIRS TO PROPERTY, VALUED At
s,,sooooo REACH AN
AGREEMENT.
PROPERTY IN TRUST
WILL De DIVIDED.
Stipulation Filed Setting Aside Trust
Mason City Heirs TO Participate in
Equal Division Of Propsrty.-chars-
o. Of Mismanassnsn Against Trus-
toe Withdrawn and Regulated.

.haSOn LILY, oCL lo.-1ne case u
Brett VS. Brett has been settled by
stipulation filed in the case. This was
an action brought by A. II. Brett and
others against George w. Brett to set
aside trust created in the property
of William Brett in 1908, and also a
trust created in the property OF Ellen
Brett in 1911. The case has been pend
ing since April, 1915. and a large
amount of dispositions have been taken.
The books relating to the trust have
been fully examined and audited and
found to be substantially correct. The
estate of William and Ellen Brett con-
sisted of lands and lots in California.
Iowa, Michigan, South Dakota, Mime
sofa, Missouri and Colorado. These
properties have been under the sole
care and management of George w.
Brett since 1904, and William Brett
and his wife have been living in the
state of California BY the stipulation
of settlement filed in the case all
charges filed against George w. Brett
of wrong doing in connection with the
perty of William and Ellen Brett are
withdrawn and George W. Brett Is
fully exoneraed therefrom, and George
w. Brett is shown to have taken extra
ordinary care of the property entrusted
to him by his father and mother and
TO have looked after the same with
scrupulous care, and to have kept
exact accounts of all moneys received
and paid in separate accounts from his
own, so that an audit Of the books
showed a discrepancy in the cash
account Of only about Sc in period
of twelve years.
The trusts under which George w.
Brett held the property are recognized
to have been valid trusts, created by
William and Ellen Brett.
Since the property was conveyed to
George w. Brett in trust. William
Brett and Ellen Brett have been re-
ceiving a part of the income from the
estate, and were to receive such in
come during their lives. BY the settle
ment between the parties to the suit
the estate is now to be divided up; the
property situated in California is to be
re-conveyed to Ellen Brett; the prop
erty in Cerro Gordo county Is to be
divided into four equal parts, one
fourth to go back to William Brett and
the other three fourths to be divided
equally between George w. Brett. A. n.
Brett az the heirs Of Emily r. Wheel
or. All of the property outside Of Cerro
Gordo county belonging to the estate
heretofore, is to be divided at this time
into three equal parts, one-third to go
to George w. Brett, one-third to A. II.
Brett and one third to the heirs of
Emily Wheeler. The money and the
rills receivable of the estate Is also
to be divided in the same way. Will
liam and Ellen Brett to receive one
fourth of bills receivable and the three
children will receive and divide equally
the balance.
The primary resort for beginning the
suit was that the trust agreement re-
stricted the share of A. II. Brett to q
life estate and gave the balance to the
heirs of Emily Wheeler and the heirs
of George W. Brett after the death OF
A. H. Brett. 1t was to set aside this
limitation that the suit probably was
instituted. Inasmuch as William and
Ellen Brett are now willing that A. H.
Brett should have his share in full. by
the terms of the stipulation he gets his
property free from this limitation. 1t
is estimated that the estate is worth
a million and half dollars. In the
settlement William and Ellen Brett
are also to receive an annuity Of $4,000
during life.