101 South Hanley, Suite 1280 Clayton, MO 63105
314.283.8930; henry@elsterlaw.com

Monthly Archives: February 2019

Power of Attorney Litigation, Attorney Fees

An attorney-in-fact for a principal under a power of attorney has a fiduciary obligation to act in the best interests of the principal consistent with the terms of the power of attorney document. When an attorney-in-fact breaches his or her obligations, the principal, a family member of the principal or some other successor in interest […]

Read More

Trustee Duty to Report and Inform

As part of a trustee’s fiduciary duties, there is an important obligation to keep beneficiaries ” “reasonably informed about the administration of the trust and of material facts necessary for them to protect their interests.” § 456.8-813, RSMo. This is flexible language and greatly depends on the facts of a particular section. However, the official […]

Read More

Trusts: Duty of Loyalty

A trustee has a fiduciary duty of loyalty to act in the best interests of the trust’s beneficiaries. While the Settlor (i.e., trust-maker) is alive and has capacity to revoke the trust, the duties of the trustee are owed exclusively to the Settlor. Section 456.6-603, RSMo. There is typically a shift in these duties when […]

Read More

Trust Law versus Corporate Law, Controlling Duties

When a trust owns corporate shares, do corporate fiduciary obligations or trustee obligations prevail? The answer is that generally a trustee’s obligations take priority. Upon incorporation of trust assets, the corporation becomes the alter ego of the trustees and the trustee’s acts are determined in the light of the trust. Weldon Revocable Trust v. Weldon, 231 S.W.3d 158, 171 […]

Read More