Browning v. Van Brunt, DuBiago & Co., LLC

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The Supreme Court affirmed the judgment of the trial court granting Defendants’ motion to dismiss this claim brought by trust beneficiaries against third parties on behalf of the trust, holding that the trial court properly determined that it lacked subject matter jurisdiction over Plaintiffs’ claim. Plaintiffs, beneficiaries of a trust, brought a breach of contract claim against Defendants, the financial advisor for the trust and the advisor’s employee. Plaintiffs argued that they fit within an exception to the general rule that beneficiaries of a trust lack standing to bring an action against a third party for liability to the trust, thus allowing them to bring this action because trustee improperly refused or neglected to do so. The trial court granted Defendants’ motion to dismiss. The Supreme Court affirmed, holding that Plaintiffs failed to demonstrate that the trustee improperly failed to sue Defendants for their alleged breach, and therefore, the allegations were insufficient to demonstrate that Plaintiffs had standing to sue. View "Browning v. Van Brunt, DuBiago & Co., LLC" on Justia Law