Bank May Be Liable For Loss Caused By Fiduciary Breach
AUGUST 26, 2002 VOLUME 10, NUMBER 8 One of the most important rules governing fiduciaries is that they must never commingle the money they manage for others with their own funds. This overriding principle applies to personal representatives of estates (sometimes called executors), conservators of the estates of minors and incapacitated adults, trustees, and agents […]
Trustee in Fee Dispute Must Repay a Share of Bank Profits
JUNE 3, 2002 VOLUME 9, NUMBER 49 When a trustee charges fees in excess of what is due, how much should it have to repay to the trusts? That was the question posed and decided recently by the U.S. Court of Appeals for the Ninth Circuit, sitting in California. Security Pacific National Bank merged into […]