One of my very first posts on this blog generally discussed the legal duties of trustees under Arkansas law. While that post summarized some of the more abstact legal principles at issue, a much more common question posed to me and other attorneys at dinner parties and elsewhere is what are the practical duties of trustees (and, [...]
Archive for the ‘Breach of fiduciary duties’ Category
UPDATED: Sentencing Time In The Ultimate Wealth War: The Astor Family Fortune
Posted in Breach of fiduciary duties, Duties of executors, Duties of trustees, In the news, Misappropriation of assets, Self-dealing, tagged Anthony Marshall, Astor, Brooke Astor, estate planning, law enforcement, Phillip Marshall, trust administration, wealthy, white collar crime on December 19, 2009 |
As we are in the midst of the holiday season and families all around the world are coming together to enjoy each other’s company for a few fun-filled days (or in some cases a couple of miserable hours), it can be a little disheartening to read about (much less write about) another wealth war in the news. [...]
New Book And Television Series Coming Out About Estate, Trust & Probate Battles
Posted in Breach of fiduciary duties, In the news, Misappropriation of assets, Rights of beneficiaries, Will contests, tagged book, conspiracy, documents, estate, fortune, fraud, lawsuit, money, movie, probate, prominent, television, Trial And Heirs, trust, TV on December 3, 2009 |
The estate, trust, and probate disputes and lawsuits that one reads about in the newspapers and which we commonly see in our law practice can seem like a television or movie drama. Common threads running through these battles frequently include prominent characters in the community, tales of large sums of money flying around, allegations of complex conspiracies, questions regarding [...]
Avoiding Estate, Trust & Probate Litigation
Posted in Accounting actions, Breach of fiduciary duties, Duties of executors, Duties of trustees, In the news, Interpretation of wills/trusts, Misappropriation of assets, Rights of beneficiaries, Self-dealing, Will contests, tagged Abraham Lincoln, beneficiaries, bypass, distribution, estate litigation, estate planning, fraud, intentions, no-contest, probate litigation, surprise, trust department, trust litigation, trusts, U.S. News, undue influence on November 30, 2009 |
Since one of my areas of practice is estate, trust & probate litigation, it is obviously not in my economic self-interest to counsel against getting involved in this type of litigation in the first place. However, first and foremost is a lawyer’s duty to his or her client, which while sometimes involves filing or defending a [...]
Legendary College Football Coach’s Son Sues Stepmom Over Trust Obligations
Posted in Accounting actions, Breach of fiduciary duties, Duties of trustees, In the news, Rights of beneficiaries, tagged accounting, arkansas, assets, beneficiary, college, conference, confidentiality, football, gamecocks, mallett, michigan, petrino, razorback, schembechler, south carolina, trust, wolverine on November 8, 2009 |
We’re in the heart of the 2009 college football season and the Arkansas Razorbacks are having a better year than last year under second-year Coach Bobby Petrino (thank goodness), although losing against the Florida Gators a couple of weeks ago still stings. Transfer Ryan Mallett had a fantasic game yesterday against the South Carolina Gamecocks, and it [...]
Modern Recordkeeping Fraught With Potential For Abuse When Individuals Die
Posted in Breach of fiduciary duties, Duties of executors, Duties of trustees, In the news, Misappropriation of assets, Rights of beneficiaries, Self-dealing, tagged administrator, assets, computer, digital, estate planning, lawsuit, liabilities, recordkeeping on October 28, 2009 |
An interesting article on msnbc.com from a few days ago sheds light on how modern day estate planning probably needs to catch up with the practicalities of modern day life. Specifically, the article’s author discusses how, years ago, when an individual died the survivors typically conducted a search of the house, papers, safety deposit box, etc. in order [...]
Children Of Dr. Martin Luther King, Jr. Settle Dispute Over Father’s Estate
Posted in Breach of fiduciary duties, Duties of executors, In the news, Misappropriation of assets, Rights of beneficiaries, tagged assets, children, estate litigation, executor, jury trial, Martin Luther King, property rights, siblings on October 24, 2009 |
Anyone who knows me is aware of my admiration for Dr. Martin Luther King, Jr. as a speaker, preacher, writer, community activist, and proponent of peace and nonviolence. Many do not appreciate the fact that he was much bigger than a mere advocate for racial equality, but rather was a warrior for the larger causes of social and economic justice. [...]
Statute Of Limitations For Breach Of Trust Suits Against Trustees
Posted in Breach of fiduciary duties, Duties of trustees, Rights of beneficiaries, Statute of limitations, tagged Arkansas Trust Code, beneficiaries, breach, Breach of fiduciary duties, breach of trust, duties, fraudulent concealment, Statute of limitations, tolled, trust litigation, trustee on October 16, 2009 |
A couple of the most frequent questions in estate, trust, and probate litigation are: (from trust beneficiaries) “How long do I have to sue a trustee for breach of trust?”, and (from trustees or potential trustees) “How long must I be concerned about potentially being sued for an alleged breach of trust?” The Arkansas Trust Code (at [...]
No Breach Of Fiduciary Duty In Unique Trust Lawsuit
Posted in Breach of fiduciary duties, Duties of trustees, Misappropriation of assets, Recent Arkansas appeals, Self-dealing, tagged assets, Breach of fiduciary duties, encumber, mismanagement, Self-dealing, trust, trustee on October 2, 2009 |
The Arkansas Court of Appeals recently ruled in an interesting case that a trustee’s encumbrance of trust property did not, under the specific circumstances involved in the dispute, constitute a violation of the trustee’s fiduciary duties. Ordinarily such actions are looked down upon, but this case is an instance in which the unique facts involved apparently warranted a slight departure [...]
