Opinion ID: 220042
Heading Depth: 2
Heading Rank: 5

Heading: Quantum of Withdrawal

Text: Finally, in the mistaken belief that Mary had died before Hoff’s 30th birthday, the district court understandably held that Appellee may withdraw, for the benefit of Hoff’s bankruptcy estate, trust principal in an amount comprising (1) one-third of the Trust’s property valued as of Hoff’s 30th birthday and (2) one-half of the Trust’s property remaining on Hoff’s 35th birthday, valued as of that date. All now agree, however, that Mary died after Hoff’s 30th birthday, so the condition precedent to the accrual of his withdrawal right at age 30 never materialized. Consequently, as acknowledged at oral argument by counsel for Appellee, the only withdrawal right to which Hoff was entitled when he filed for bankruptcy at age 37 was the right to withdraw assets of the trust having an aggregate value equal to one-half of the principal of the Trust remaining on — and valued as of — Hoff’s 35th birthday. Accordingly, the judgment of the district court must be amended to specify that Appellee’s withdrawal be in that amount only; and we remand this case to the district court for the limited purpose of its determining such amount and entering an amended judgment which reflects that correction.