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Estate Planner Did Not Breach Duty By Failing to Disclose Basis of Fees

Estate Planner Did Not Breach Duty By Failing to Disclose Basis of Fees

Estate Planner Did Not Breach Duty By Failing to Disclose Basis of Fees

Court affirms plan that reduced bequests to daughters of couple who established charitable remainder trusts
A charitable estate planning firm did not breach a fiduciary duty to a married couple by failing to disclose the full basis of their fee arrangement with charitable beneficiaries of the plan, a California Court of Appeal has affirmed. Two daughters who sought to overturn the estate plan that reduced bequests to them have been rebuffed in a family fight over the estate. Lowell and Mary Lou Patton had been married for more than 40 years when Mary Lou became seriously ill with leukemia in early 2002. Since they had no estate plan, their long-time accountant recommended they see a lawyer. Mary Lou told the lawyer that she wanted to assure that her husband would treat their daughters fairly, but...

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