Higby v. First National Bank of Colorado Springs

BABCOCK, Judge.

Respondent, First National Bank of Colorado Springs, is the trustee of a testamentary trust established by J. Louis Killin, deceased. The corpus of the trust includes, among other assets, “the Spring Valley Ranch” (the ranch) consisting of 2,332 acres of ranch land located in Douglas and El Paso Counties. Petitioners, Esther M. Higby and Ladis John Higby, income beneficiaries of the trust, filed this declaratory judgment action seeking construction of the will and an order directing the respondent trustee to sell the ranch.

After trial, the trial court concluded that the terms…