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ORDER DECLARING INTEREST OF REMAINDER BENEFICIARIES

Overview

On June 14, 2004, Patrick Christopher Lear and his brother Christian filed a Motion for Declaratory Relief (MDR) asking the Court / Judge Breen to declare the rights and relationships of the parties (the beneficiaries and Trustees).Truth is as difficult to change as the flow of rivers - a picture of the Truckee river  Over the course of nearly two years the Trustees obstructed, delayed and opposed any determination by the Court. The Court itself remained silent on the MDR therebypreventing even an appeal but effectively granting the Trustees their wish.  Finally, on April 21, 2006 after having dismissed several complaints including the Petition to Set Aside Accountings and having imposed sanctions against Patrick Christopher Lear in excess of $8600.- upon the basis that he lacked standing to file the complaint, the Court issued an order which is reproduced below wherein Judge Breen concludes:

        “In the past this Court has considered the Remainder Beneficiaries as Contingent Beneficiaries.
        Based upon the Briefs submitted by the parties. the arguments of counsel and parties, and all the papers, pleadings, and orders entered in this matter; and based upon the language of the Lear Family Trust Agreement, the Court concludes that the better policy for Nevada law is the early vesting of interests in a trust; henceforth and hereafter, good cause appearing,
        IT IS HEREBY ORDERED. ADJUDGED, AND DECREED, that the interest of the Remainder Beneficiaries to the Lear Family Trust described in Article Fifth (b) therein as "lawful issue, is declared to be vested subject to defeasance.”

On May 19, 2006, the LFT Trustees filed a notice stating their intent to appeal the April 21, 2006 Vesting Order (reproduced below).

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