6/22/2023 0 Comments Duty to inform state![]() Berdena was the sole beneficiary under their joint will. Throughout their marriage, Berdena’s husband was the exclusive manager of the couple’s assets, so that Berdena had no experience in financial management. Petitioner Berdena Raak is a widow in her late seventies who lives by herself. Respondents, former trustees of Berdena Raak’s revocable trust, appeal as of right from an order of the probate court requiring them to render an accounting as to trust property. Therefore, this chapter includes a brief discussion of the remedies available to the beneficiary when the trustee is found to have breached one or more of his duties. When a beneficiary requests an accounting she is usually seeking some type of damages. Thus, a beneficiary who lacks the capacity to understand the information presented at the accounting will not be prevented from later challenging the court’s approval of the accounting. The beneficiary’s consent to the accounting must be informed. Nonetheless, an accounting will not protect a trustee who misrepresents vital facts. However, A may be relieved of liability because the accounting was accepted by the beneficiary and approved by the court. If the trust suffers a loss because of the lack of full insurance coverage, C might be inclined to sue B for breaching his duty of prudence. C fails to object to B’s accounting and the court approves it. At an accounting, B informs C that since the house is depreciating, B has decided to reduce the insurance coverage on it. The house declines in value after B assumes his role as trustee. A leaves his house to B in trust for the benefit of C. After the trustee makes an accounting that is accepted by the beneficiary and the court, the trustee is protected from liability to the extent that the factual basis for a later claim by the beneficiary was disclosed in the accounting and accepted by the beneficiary. The accounting protects the interests of the trustee and the beneficiary. The accounting may be mandated by the trust instrument or the law or requested by a beneficiary who suspects that the trustee has violated the terms of the trusts instrument. These duties are related because the purpose of the accounting procedure is to provide the court and the beneficiary with information. Thus, the trustee has a duty to account and to inform. In order for the beneficiary to hold the trustee accountable, the beneficiary must have information about what the trustee is required to do and what the trustee actually does. Some of the trustee’s duties are mandated by law others are imposed by the provisions of the trust instrument. The shooting remains under investigation by area detectives.As the previous chapters have indicated, the trustee has a lot of responsibilities. The officer involved has been placed on routine administrative duties for a period of 30 days, police said. The Civilian Office of Police Accountability has begun investigating the shooting to find out more specific details, including a comprehensive use of force investigation, police said. It was not immediately known if the armed person was hit by the gunfire. The officer was not injured during this incident, police said. ![]() The armed person fled the scene in a vehicle. The officer produced their firearm and discharged their weapon, police said. Friday in the 2800 block of West 47th Street, police said. The officer was not on duty when they were involved in a confrontation with an armed individual in a vehicle just after 11 p.m. A police-involved shooting is under investigation after an officer fired shots at an armed person in Brighton Park Friday, Chicago police said.ĬHICAGO (WLS) - An off-duty Chicago police officer fired shots at a person armed with a gun on the city's Southwest Side Friday evening, Chicago police said. ![]()
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