One of the main goals of a trust is to privately administer an individual’s or family’s affairs. When disputes arise relating to the propriety of a trust’s administration, or even assertions of breach of trust against the trustee, the matter can quickly become public in courts. As a way to avoid this publicity, Missouri law…
Legal Articles
Trust Beneficiary Consent, Release, Ratification
A breach of trust is a violation by a trustee of a duty the trustee owes to a beneficiary. See Section 456.10-1001.1, RSMo. In serious cases, a breach of trust can warrant a removal of the trustee or a monetary suit for legal damages. A breach of trust, however, can be cured through beneficiary consent, release…
Trustee Duty to Inform
A trustee is a fiduciary of the highest order and is required to exercise a high standard of conduct and loyalty in administration of the trust. Ramsey v. Boatmen’s First Nat’l Bank of K.C., N.A., 914 S.W.2d 384, 387 (Mo. Ct. App. 1996). While a trustee has many duties (e.g., diligence, impartiality, etc.), the most fundamental…
Fiduciary Duty Litigation: Breach & Enforcement in Missouri
A fiduciary duty refers to a special legal relationship which is imposed by the law. Ordinarily, individuals do not owe heightened legal responsibilities to other individuals; the stranger on the street owes no special duty to the other stranger on the street. If, however, those strangers owed each other a fiduciary duty, then there could…