20 results for 'cat:"Trusts" AND cat:"Fiduciary Duty"'.
J. Russell mostly declines the stepfather's motion to dismiss in this fraud and fiduciary duty lawsuit concerning the administration of the mother's trust. The brothers have sufficiently alleged that the stepfather breached his fiduciary duties as the trustee by selling the house below market value, issuing an unsecured loan to his own son, and failing to pay ad valorem taxes on behalf of the trust. However, the brothers' claim for accounting is dismissed.
Court: USDC Western District of Oklahoma , Judge: Russell, Filed On: March 11, 2024, Case #: 5:23cv917, NOS: Other Fraud - Torts - Personal Property, Categories: Fraud, trusts, fiduciary Duty
J. Mortensen finds that the trial court should have required trust beneficiaries to more adequately disclose their expected testimonies supporting a challenge to a trustee's handling of a trust, but the error was harmless because the trustee was allowed to depose them on the subjects of their testimony. Also, a computation of damages was not needed to remove the trustee for his refusal to distribute most of the trust assets, so its omission was harmless. Affirmed.
Court: Utah Court Of Appeals, Judge: Mortensen, Filed On: February 29, 2024, Case #: 20220699-CA, Categories: trusts, fiduciary Duty
J. Chutich affirms the Court of Appeals' conclusion that the district court did not abuse its discretion by removing a trustee of the charitable trust, which also owns a major regional bank. District courts may remove trustees for a "serious breach of trust," and such a breach may be a series of smaller breaches which, taken together, justify removal even if none of them would justify it alone. The trustee's pattern of self-dealing with trust resources, including support for an attempted hostile takeover of the bank by outside investors and abusive treatment of a trust grantee, qualifies under this definition.
Court: Minnesota Supreme Court, Judge: Chutich, Filed On: February 7, 2024, Case #: A22-0906, Categories: trusts, fiduciary Duty
J. Heavican finds the county court properly removed the sister as trustee of the family trusts. Proceedings distributing trust assets among the siblings following the death of the parents is described as "contentious." The court accepted the cotrustee brother's resignation, then found the sister had breached her fiduciary duty and removed her. That the rest of the siblings have requested the removal of the sister as trustee supports her removal regardless of any breach of fiduciary duty. Affirmed.
Court: Nebraska Supreme Court, Judge: Heavican , Filed On: February 2, 2024, Case #: S-23-058, Categories: Family Law, trusts, fiduciary Duty
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J. Fallon denies a request by a co-trustee of a charitable trust to strike the jury trial demand of a co-trustee the court removed for breach of fiduciary duties. The surviving co-trustee's suit against his expelled cohort seeks monetary damages for funds to which the beneficiary trusts are entitled. This is a legal remedy and, therefore, the expelled trustee is entitled to a trial by jury.
Court: USDC Eastern District of Louisiana , Judge: Fallon, Filed On: November 30, 2023, Case #: 2:17cv5368, NOS: Other Contract - Contract, Categories: trusts, Damages, fiduciary Duty
J. Lewison finds a lower court properly ruled in favor of the attorney general on a fiduciary trustee's challenge of its application of charitable funds. The fiduciary trustee argued that the funds should be held in charitable trusts. However, the attorney general provided sufficient evidence in court that the funds should be applied to decrease the national debt. Affirmed.
Court: Her Majesty's Court of Appeal, Judge: Lewison, Filed On: November 15, 2023, Case #: CA-2023-851, Categories: Government, trusts, fiduciary Duty
J. Ecker finds the lower court erroneously dismissed the beneficiaries' fiduciary duty claims against the trustee. Although she was not the executor of the estate and could not exert influence over its assets, she retained a duty to protect the interests of the trust and file claims against the executor based on evidence of self-dealing. Additionally, even though there was no claim of self-dealing against the trustee, such an allegation is not required for a fiduciary duty claim such as this, when the trustee allegedly failed to diligently protect the interests of the beneficiaries. Reversed.
Court: Connecticut Supreme Court, Judge: Ecker, Filed On: November 7, 2023, Case #: SC20676, Categories: trusts, Wills / Probate, fiduciary Duty
J. Klappenbach finds the circuit court properly refused to set aside a trust on direct appeal, and properly removed a trustee on cross appeal in this dispute involving multiple extended family members. The trustee, a friend of the deceased, resisted revealing trust documents and did not perform an accounting until required to do so by the circuit court. This was a “serious” breach of the fiduciary duties. Affirmed.
Court: Arkansas Court Of Appeals, Judge: Klappenbach , Filed On: September 13, 2023, Case #: CV-20-656, Categories: trusts, fiduciary Duty
J. Rodriguez finds that the trial court properly refused to dismiss the daughters' claim under the Texas Citizens Participation Act in a breach of fiduciary duty complaint against the father arising from his actions while serving as co-trustee of their identical irrevocable trusts. The daughters alleged that the father breached his fiduciary duty by continuing the prosecution of crossclaims for damages against the mother despite the daughters' opposition. The Act does not apply to claims brought by trust beneficiaries for violations of the trust code. Affirmed.
Court: Texas Courts of Appeals, Judge: Rodriguez, Filed On: August 25, 2023, Case #: 08-23-00119-CV, Categories: trusts, fiduciary Duty
J. Westmore denies the former family living trust trustee's motion for summary judgment on the beneficiary's breach of fiduciary duty, professional negligence and accounting claims. The trustee, at a minimum, owed statutory duties to the beneficiaries, and fact questions remain as to whether his actions amounted to gross negligence or were undertaken in good faith.
Court: USDC Northern District of California, Judge: Westmore, Filed On: August 4, 2023, Case #: 4:23cv675, NOS: Other Personal Property Damage - Torts - Personal Property, Categories: trusts, fiduciary Duty
J. Harris finds that the trial court properly held that a trustee breached his fiduciary duties in his handling of trust assets and excluded his expert witnesses, but a $250,000 damages award was unsupported by findings. The trial court also erred when it held the estate liable for the trustee's actions since a claim for vicarious liability was not pleaded or tried. The trial court should have applied extrinsic evidence of interest rates to a loan from the trust instead of default rates and it must revisit the offset determinations used in awarding damages. Vacated.
Court: Utah Court Of Appeals, Judge: Harris, Filed On: August 3, 2023, Case #: 20200808-CA, Categories: trusts, Damages, fiduciary Duty
J. Davis finds the lower court properly determined that a brother, acting as attorney-in-fact, had the authority to create a second trust, and it properly dismissed claims against another brother as he has no role in the management or administration of the trusts. There is a question as to whether the brother breached his fiduciary duties as attorney-in-fact and trustee by providing his brother with lifetime income associated with the decedents’ rental property business as it was not part of the original or amended trust. Because a question of material fact remains, the instant court vacates the lower court's decision granting summary judgment to the brother for appellant’s claims that he failed to provide accounting, enforcement of the no-contest provision of the trust, and attorney fees, and the matter is remanded to the lower court for further proceedings. Reversed in part.
Court: Tennessee Court of Appeals, Judge: Davis, Filed On: July 14, 2023, Case #: E2022-01034-COA-R3-CV, Categories: trusts, fiduciary Duty, Attorney Fees
J. Blake affirms a trustee’s motion to dismiss the trust’s remainder beneficiaries’ attempt to require her to provide them with documentation regarding the trust. While they are children of the trustee’s late husband from a prior marriage and would be entitled to the trust if the trustee died, she is only required as the current trustee to maintain the trust’s books and records, not to provide information from those books and records to remainder beneficiaries.
Court: Massachusetts Court Of Appeals, Judge: Blake, Filed On: July 7, 2023, Case #: 22-P-783, Categories: trusts, fiduciary Duty
J. Stegner finds that the trial court properly determined that a trust indenture was drafted in a way that allowed it to supersede the statute that requires court approval for a property sale that presents a clear conflict of interest. However, issues of fact about whether a trustee fulfilled his duties under the trust indenture should have precluded summary judgment. The trial court must determine if the trustee violated his fiduciary duty when he approved the sale of trust property to a corporation of which he was a member. Reversed.
Court: Idaho Supreme Court, Judge: Stegner, Filed On: June 27, 2023, Case #: 49189, Categories: Property, trusts, fiduciary Duty
J. Wood finds the circuit court properly found that the daughter breached her fiduciary duty as guardian of her mother. The daughter served as co-trustee with her mother over a trust benefiting the mother and of which the daughter was the sole beneficiary at the mother’s death. The daughter failed to prove that the source of the mother’s personal funds transferred into the trust was the trust itself. The daughter admitted transferring all of the funds in her mother’s personal accounts totaling over $1 million into the trust. Affirmed.
Court: Arkansas Court Of Appeals, Judge: Wood, Filed On: May 31, 2023, Case #: CV-20-555, Categories: trusts, Wills / Probate, fiduciary Duty
J. Clement finds the lower court properly determined that an amendment to a revocable trust, initiated by an attorney-in-fact, is valid. The attorney-in-fact amended the terms of the trust after one of his client’s children died, redistributing the estate amongst the surviving children and omitting the deceased’s children from the trust. While the appellants argue the attorney-in-fact lacked the authority to amend the trust, the lower court found that he did, as there was nothing in the agreement that specifically prohibited him from doing so, and the agreement gave him authority to act as both the attorney-in-fact and general power of attorney. Affirmed.
Court: Tennessee Court of Appeals, Judge: Clement, Filed On: May 19, 2023, Case #: M2022-00771-COA-R3-CV, Categories: trusts, fiduciary Duty