Chapter 20 - Harbor keeps the trust
Probate Judge Anita Wallace issued ruling.
Diane’s petition to remove Harbor:
Denied.
Findings:
Harbor acted within fiduciary discretion.
Appropriately considered concentration.
Appropriately investigated related-party conflicts.
Did not improperly discriminate against family investment.
Its requested compensation modifications were consistent with bargaining for beneficiaries.
Diane’s disagreement did not establish breach.
Then the male-line issue.
Judge wrote:
The trust instrument contains express language rejecting sex- and surname-based priority. Family customs, however sincerely held, cannot amend an irrevocable trust.
There.
Then Mark’s branch.
The court did not punish him.
It noted his personal management incentive should have been more clearly separated from beneficiary recommendations.
Harbor had corrected.
Legacy Ventures amended criteria.
No damages.
No surcharge.
No removal.
Then Diane’s role.
Could court remove her as family adviser?
Harbor had not requested.
Evidence did not show her advisory role itself caused trust loss.
She remained, subject to instrument.
That irritated me.
Then Marian said:
“Not every bad grandmother loses every institutional title.”
Correct.
Then legal fees.
Each side mostly paid its own, but court allowed trust to pay Harbor’s reasonable defense costs under instrument.
Diane paid hers.
No giant sanction.
Then she filed notice of appeal.
Not yet perfected.
Active.
Then family court final parenting decision still pending.
Mark’s mother contact unresolved.
May you like
Property settlement almost done but refinance not closed.
We were not finished.
