Hastings v. PNC Bank, NA

Petitioners were beneficiaries of a testamentary trust who sued the trustee, Respondent PNC Bank. Petitioners alleged that PNC improperly demanded that each beneficiary execute a broad release agreement prior to distribution and misapplied the provisions of the Maryland Code, Tax-General Article in calculating the amount of inheritance tax owed on the trust's assets and the amount of commission to which PNC was entitled as trustee. The circuit court granted summary judgment in PNC's favor, finding no legal impropriety in PNC's distribution plan or its calculation of the tax and commission. The court of special appeals affirmed. The Court of Appeals affirmed, holding that PNC's actions were in accord with Maryland law. View "Hastings v. PNC Bank, NA" on Justia Law