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Monthly Archives: June 2015

Trusts: Trustee Duty to Prudently Invest, Duty to Diversify

In investing the assets of a trust in stocks, bonds, securities, etc., a trustee must consider the purposes, terms, distributional requirements, and other circumstances of the trust. Section 456.8-804, RSMo. To this end, the trustee must exercise reasonable, care, skill and caution. Id. When evaluating whether a trustee has properly invested funds, investment decisions are evaluated not […]

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Trusts: Trustee Duty to Report & Inform

As part of a trustee’s general fiduciary duty, a trustee must keep qualified beneficiaries reasonably informed about the status of the trust and of facts necessary for them to protect their interests. Section 456.8-813, RSMo. Because this is a fuzzy standard and is quite fact intensive, the Missouri Trust Code states that a trustee presumptively […]

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Foreclosure and Sale of Membership/Ownership in a LLC

After a recent appellate court decision, it is clear that there are more liability protections for owners/members of a limited liability company (“LLC”). The “new” protection is indirect. Generally, the owners of a LLC are shielded form the debts and liabilities of a LLC. If, however, an individual has a personal judgment against him/her (even one completely […]

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Whether in the context of a civil contract suit, tort suit or otherwise, an argument that someone or something has waived rights will inevitably come up or be contemplated. For instance, with a suit for breach of contract, defendants will often assert as an affirmative defense that a plaintiff has waived the claims being made.  A waiver […]

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Civil Conspiracy Claims

Civil conspiracies may exist in civil cases for money damages or equitable relief (e.g., breach of contract and tort claims such a breach of fiduciary duty). While civil conspiracy has its own separate elements, it is not a distinct  cause of action. Breeden v. Hueser, 273 S.W.3d 1, 13 (Mo. Ct. App. 2008). It functions to […]

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Analyzing Testamentary Capacity

A will or trust is void if the person making it lacked sound mind at the time of execution. Watson v. Watson, 562 S.W.2d 329, 331 (Mo. 1978). In Missouri, an individual who has enough mind and memory to understand the ordinary affairs of life, knows the nature and extent of his/her property and who are the […]

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