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IN RE REYNOLDS

BAP No. CC-11-1433-HPaD. Bankruptcy No. 09-14039. Adversary No. 09-01205.

479 B.R. 67 (2012)

In re Rick H. REYNOLDS, Debtor. Sandra Bendon, Chapter 7 Trustee, Appellant, v. Rick H. Reynolds; John M. Carmack, Co-Trustee of the Reynolds Family Trust and Co-Trustee of the Reynolds Family Trust-Survivor's Trust, as amended; John Morris, Co-Trustee of the Reynolds Family Trust and Co-Trustee of the Reynolds Family Trust-Survivors Trust, as amended, Appellees.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided August 24, 2012.

Attorney(s) appearing for the Case

Jesse S. Finlayson, of Finlayson Williams Toffer Roosevelt & Lilly LLP, argued for the Appellant.

Before: HOLLOWELL, PAPPAS and DUNN, Bankruptcy Judges.

OPINION

HOLLOWELL, Bankruptcy Judge.

The bankruptcy court granted the debtor's summary judgment motion, concluding that the bankruptcy estate was entitled to no more than 25% of the debtor's beneficiary interest in a spendthrift trust. The chapter 7 trustee appealed. For the reasons explained below, we AFFIRM.

I. FACTS

In 2005, Rick Reynold's (the Debtor's) parents, Freddie Hugo Reynolds (Freddie) and Patsy R. Reynolds (Patsy), established...

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