Wills, Trusts & Estates keyed to Dobris
In re Freihofer
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Charles Freihofer (Testator) died testate, survived by his wife (Wife) and two sons (Petitioners). By the terms of Testator’s will, the entire estate passed to his wife. However, under renunciation filed by Wife, a portion of Testator’s estate made up of properties affiliated with the Charles Freihofer Banking Company, Inc. passed into testamentary trusts for the benefit of Testator’s sons. Named as trustee was attorney Alan Steiner (Respondent), who had acted on behalf of the beneficiary on other issues and who also had an interest in the corporation that made the subject matter of the trust. Respondent failed to inform Petitioners of his interest and arranged for the sale of the stock on behalf of the trust. Respondent had obtained a waiver and release of claim from the beneficiary. Petitioners seek an accounting by respondent Trustee regarding the testamentary trust. Respondent files a motion to dismiss.
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