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Davis v. Walker

The beneficiaries of a revocable trust showed that the trustee failed to exercise reasonable care in the management of the trust assets.

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In this action for breach of fiduciary duty, the beneficiaries of the Glennys Marr Davis Revocable Trust filed suit against the trustee, Lee Edward Davis, and sought the removal of Davis as trustee, the return of certain funds to the Trust, and attorney fees. Following a bench trial, the trial court granted the beneficiaries’ request for Davis’s removal as trustee, finding that Davis had breached his fiduciary duty by violating his duty to provide an annual accounting to the beneficiaries, by committing waste, and by creating a conflict of interest between himself and the beneficiaries. The trial court further ruled that the funds from the joint account did not have to be returned because they were solely vested in Davis and were not Trust property. Attorney fees were not awarded to either party. These cross-appeals followed. In Case No. A07A0907, Davis appeals the trial court’s finding that he breached his fiduciary duty by committing waste and creating a conflict of interest.1 In Case No. A07A0908, the beneficiaries appeal the trial court’s ruling that the funds from the joint account were not Trust property and its denial of their request for attorney fees. For the reasons set forth below, we affirm in both cases.

A07A0907

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