In re Guardianship & Conservatorship of Novotny

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The Supreme Court reversed the circuit court’s order refusing to terminate an irrevocable trust and granted summary judgment in favor of the trustees. The sole beneficiary of the trust sought to terminate the trust and requested that the court distribute the assets to her. The beneficiary also alleged that the trustees had breached their fiduciary duties. The circuit court declined to terminate the trust. The Supreme Court reversed, holding (1) the circuit court erred in finding the trust to be unambiguous; and (2) the circuit court erred in not terminating the trust and distributing the trust property to the beneficiary because the trust purpose had been fulfilled and because termination of the trust would “substantially further the trustee’s purposes in creating the trust.” View "In re Guardianship & Conservatorship of Novotny" on Justia Law