Credit: zimmytws/Adobe Stock Supreme Court Determines Breach of Fiduciary Duty Claims Against Trustee Survive Summary Judgment
"Because the trial court incorrectly concluded that the defendant had no duty to protect and collect potential trust assets, such as the undistributed residuary assets at issue in this case, the court did not consider whether the plaintiffs adduced sufficient evidence to survive summary judgment on the issue of the defendant's alleged breach of her fiduciary duty," the opinion said. "Our review of the record reveals that genuine issues of material fact exist with respect to the allegations of the defendant's breach of fiduciary duty in the present case."
November 09, 2023 at 03:20 PM
4 minute read
News
After 17 years, an estate has not been settled, and continues to go down the path of further litigation due to an alleged breach of fiduciary duty by a trustee.
The Connecticut Supreme Court was faced with the issue of whether a trustee of an inter vivos trust, a trust created during the life of the settlor, who is a residuary beneficiary of the estate, is required to protect and collect assets not yet transferred to the trust, the opinion said.
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