Justia Nebraska Supreme Court Opinion Summaries

Hastings State Bank sought to enforce a commercial guaranty against Miriam Misle in her capacity as trustee of the Julius Misle Revocable Trust. The bank claimed that Julius had signed a guaranty in favor of the Bank, which guaranteed debt owed by a limited liability company. The district court determined that Julius' trust was liable for up to $500,000 in principal on the commercial guaranty and granted partial summary judgment in favor of the bank. After a trial, the district court found in favor of the bank and entered judgment in the amount of $500,000. On appeal, the Supreme Court affirmed, holding (1) the district court did not err when it granted partial summary judgment in the bank's favor and denied Miriam's motion for summary judgment; and (2) the district court's factual determination that the trust was liable for the full amount of the guaranty, $500,000, was supported by the evidence and was not clearly wrong. View "Hastings State Bank v. Misle" on Justia Law

Ruth Mansfield, the beneficiary of an inter vivos trust, died in 2005 after more than a decade of battling diffuse cerebrovascular disease. After Ruth's death, her estate sought payment of her last-illness expenses from the trust. The trustee declined. The county court concluded the trustee had properly denied payment of the medical bills because the purpose of the trust had ended with Ruth's death. The Supreme Court disagreed with the lower court's reasoning and remanded. On remand, the county court granted the trustee's and remainder beneficiaries' motions for summary judgment. The Supreme Court affirmed, concluding that the trustee did not have a fiduciary duty imposed either through statute or the language of the trust to pay Ruth's medical expenses and did not abuse its discretion in declining to pay Ruth's medical expenses from the trust principal. View "In re Trust Created by Hansen" on Justia Law