Jacob v. Davis

Facts

John died on January 22, 1994, leaving a will that created two trusts known as the Marital Trust, and the Family Trust, respectively (collectively, “the Trusts”). John’s surviving wife, Harriett Bell Jacob was the income beneficiary of the Trusts, and appellant was the remainder beneficiary. Another subject of Bill’s complaint is the refusal of Davis to provide an accounting for the Trusts. Appellant called Harriett to request her permission for an accounting, but she declined. Almost a year after his first request, appellant again requested by letter an accounting of the Trusts, this time through his attorneys, Christopher Wheeler and Gene C. Lange. Davis did not provide any information as to how the expenses of the trust, such as trustees’ commissions and accountant fees, were allocated between the income beneficiary and the remainderman. Further, no information was provided to show how in kind distributions of stock to Harriett were valued, e.g., at inventory value or fair market value.