In re Estate of Glenn G. Forgey

The Supreme Court affirmed in part and reversed and remanded in part an order of the county court resulting from a trust’s beneficiaries’ suit against Lyle A. Forgey, another beneficiary and trustee. The parties were beneficiaries of the Glenn G. Forgey Revocable Trust. Plaintiffs Marvel Forgey and her three children sought to remove Lyle as trustee, secure administration of the trust, value trust assets, divide those assets into separate trusts for the beneficiaries, and determine liabilities for alleged breaches of Lyle’s fiduciary duties. Bessie Forgey-McCoy and her two children, also beneficiaries, joined as interested parties. The county court valued and distributed trust assets, assessed damages against Lyle for estate tax interest and penalties, and declined to award attorney fees or costs. All parties appealed. The Supreme Court held that the county court (1) erred by not awarding damages for Lyle’s untimely reports and accountings of his failure to collect rents on behalf of the trust; (2) abused its discretion in declining to award attorney fees to Marvel, Bessie, and their children; and (3) otherwise did not err in its findings. View "In re Estate of Glenn G. Forgey" on Justia Law