In re Trust of Baumgart
Annotate this CaseDuring his lifetime, Joseph Baumgart created a trust that had been court supervised for thirty-five years. Petitioners, income beneficiaries of the trust with one exception, filed suit against Trustees seeking to reopen previous accountings, remove Trustees, and appoint an independent third-party trustee on grounds of fraud, misrepresentation, trust mismanagement, material omission, self-dealing, and other breaches of fiduciary duties. The circuit court entered judgment in favor of Trustees. The Supreme Court affirmed, holding that the circuit court (1) did not err when it determined that one trustee’s relationship to the party who leased trust property did not support a charge of self-dealing; (2) did not abuse its discretion when it denied Petitioners’ request to replace Trustees with a neutral, third party trustee; and (3) did not err when it ruled that there were no material omissions in the accountings.
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