Citizens National Bank v. Taylor

The issue raised on this appeal is whether under Texas law Elbert Wayne Goff and his wife, Gloria J. Goff, had legal title to real property held in a self-settled spendthrift trust. The bankruptcy and district courts held that the Goffs had only equitable title and that, as a result, the judgment lien of Citizens National Bank did not attach to the property. We affirm.

I

The Goffs established a self-employed retirement trust (Keogh plan) that included real property located in Travis County, Texas. The Goffs were the sole beneficiaries of the trust. Section XIII of the trust agreement provides…