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ascertainable standard, except on a pro-
rata basis of the certificate holders.
THE TRUSTEES shall have power to distribute
principal and/or income to the certificate
holders, or to make decisions or distributions
of the trust estate in whole or in part, for
delivery or transfer to the certificate holders
of any part or any portion thereof, at such
valuation as is established by the trustees to
be the fair value of the part or portion, or
the trustees may convert the trust estate or
any portion thereof into cash and distribute
the net proceeds to the certificate holders.
According to Schedule B of the declaration of trust,
Ms. Girarde contributed the following personal property
to the trust: Tools, checking and savings accounts,
furniture, fixtures, and others as per the inventory.
There is no evidence, however, that Ms. Girarde contributed
any property to the trust in January 1991 or at any other
time.
The declaration of trust purports to have been
executed by two trustees, Ms. Judie Dew and Mr. Don
Fredrickson. Both individuals have personal relation-
ships with Mr. Webber, and neither of them exercised any
independent judgment or control with respect to Ghalardi
or any of the assets allegedly held by or on behalf of
Ghalardi.
On or about January 5, 1993, Mr. Webber opened a
checking account at First Interstate Bank with an initial
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Last modified: May 25, 2011