Agenda Item A.3
CPMS CONSENT CALENDAR
Meeting Date: January 21, 2025
TO: Mayor and Councilmembers
SUBMITTED BY: JoAnne Plummer, Neighborhood Services Director PREPARED BY: Elizabeth Saucedo, City Librarian
Cassidy Le Air, Senior Management Analyst
SUBJECT: Authority to Sign Estate Documents and Approval of Donation RECOMMENDATION:
A. Authorize the City Manager or Designee to execute estate documents related to the Acceptance and Approval of Accounting and Release of Trustee for the Laura Vondracek Living Trust; and
B. Authorize the City Manager to a ccept a donation , currently estimated at approximately $156,709.19 from the Laura Vondracek Living Trust for the Goleta Valley Library through approval of the Donation Acceptance Form and authorization to sign any necessary or incidental documents thereto.
DISCUSSION:
The Goleta Valley Library was listed as a residual beneficiary from the Laura Vondracek Living Trust, entitled to 10 percent of the trust estate remaining for distribution following the death of Laura Vondracek. The Trustee of the estate has reached out requesting that the City, as a beneficiary of the estate, sign an “Approval of Accounting and Release of Trustee” (the “Approval and Release”).
By approving and signing the Approval of Accounting and Release of Trustee (Approval and Release), the City agre es with the accounting methods of the Trustee and the final distribution amount of approximately $156,709.19 from the estate. Additionally, signing the Approval and Release represents that the City approves of the actions of the Trustee while administering the Trust from and after September 25, 2023, through August 31, 2024, the accounting conta ined within that document (see A ttachment 1, page 3 ), and releases the Trustee for any liability regarding the Trustee’s administration of the Trust during the accounting period.
The Trustee has noted that it will retain a reserve of $40,000 for c ertain administrative expenses, as shown below:
1 Meeting Date: January 21, 2025
1. Additional Trustee compensation of $16,600 relating to the sale of Settlor's personal residence (1 % of gross selling price of $1,660.00);
2. Additional Trustee compensation of $4,000, relating to the disposition of two storage units located in New York containing personal effects of the Settlor as Settlor resided in New York for many years prior to moving to California;
3. Additional accounting fees of approximately $2,000 relating to the preparation of two sets of federal and state income tax returns (a fee of $15,026 having been paid to the accountant after the closing date of the Accounting, for the preparation of the Accounting and other miscellaneous accounting matters);
4. Additional cost reimbursements not to exceed $5,400 for costs associated with making the final distribution of the trust estate and for payment of any unanticipated expenses that might occur prior to distribution and which are not listed herein; and
5. Additional attorney's fees of an undetermined amount (but not to exceed $12,000) relating to the preparation of this Approval and Release and services relating to the final distribution of the trust estate.
Any unused portion of the reserve as shown on a supplementary closing cash statement shall be distributed equally to the residuary beneficiaries.
A beneficiary may petition the Santa Barbara County Superior Court , pursuant to California Probate Code Sectio n 17200, to obtain a court review of the Accounting and the acts of the Trustee. If the City does not authorize the Approval and Release, the Trustee would need to obtain an order from the court under California Probate Code Section 17200(b)(5), resulting in additional time and administrative cost.
Staff has reviewed the accounting of the Trustee, finds it accurate, and recommends that the City sign the Approval and Release to allow the final distribution to occur. Due to the monetary amount of the donation, exceeding $10,000 , a formal acceptance from City Council is required to accept the Donation in accordance with the City of Goleta Donation and Gift Policy.
FISCAL IMPACTS
Once the donation monies are received, staff will request a budget appro priation in furtherance of the Goleta Valley Library renovation to complement the CA State Library Grant funding..
ALTERNATIVES:
Council may choose to not authorize the execution of the Approval and Release, which would delay the final distribution of the assets of the estate and add administrative cost.
However, the City would be able to seek court review of the Trustee’s accounting, if deemed necessary.
2 Meeting Date: January 21, 2025
LEGAL REVIEW BY: Isaac Rosen, Acting City Attorney
APPROVED BY: Robert Nisbet, City Manager
ATTACHMENTS:
1. December 4, 2024, Letter from Attorney for Diane Goldsmith, in Her Capacity as Trustee
2. Donation Acceptance Form
3 ATTACHMENT 1
December 4, 2024, Letter from Attorney for Diane Goldsmith, in Her Capacity as Trustee
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ATTACHMENT 2
Donation Acceptance Form
40 NOTE: The City of Goleta cannot guarantee future funding for repair, maintenance, use or replacement of donated items. cc: City Council, Finance Department, City Clerk
CITY OF GOLETA
DONATION ACCEPTANCE FORM
Name of Donor:______________________________________________________________________ Address:________________________________ City: ______________ State: ______ Zip:__________ Description of donation: ________________________________________________________________ ___________________________________________________________________________________ Donor estimate of current value: _________________________________________________________ Potential immediate or initial acquisition or installation cost, any on-going maintenance or replacement cost: ___________________________________________________________________ ___________________________________________________________________________________ Intended use: _______________________________________________________________________ ___________________________________________________________________________________ Conditions of acceptance or donor designation: ____________________________________________ ___________________________________________________________________________________ Remarks: __________________________________________________________________________ ___________________________________________________________________________________ City Department receiving donation: _____________________________________________________
APPROVED / DISAPPROVED
________________________ ______________________________ Date Department Head Signature
________________________ ______________________________ Date City Manager Signature
________________________ ______________________________ Date Submitted to Council Date Approved by Council
________________________ ______________________________ Date Mayor Signature
Laura Vondracek Living Trust
(Attorney) 25 E Anapamu St, 2nd Flr
Santa Barbara
CA
93102
Monetary donation.
$156,709.19
N/A
In furtherance of the Goleta Valley Library renovation with CA State Library Grant.
N/A - for the Goleta Valley Library.
Neighborhood Services - Library
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