This case involves a dispute over a survivors trust. A couple with no children held the trust, the main asset of which was a residential property. When the wife passed away, the husband established a survivors trust. One of the beneficiaries of the survivor’s trust was a nephew who lived with and cared for the surviving husband. During the time he cared for the surviving husband, the nephew made use of trust funds for private expenses, including purchasing a luxury home valued at $2.3 million. Subsequent to the husband’s death, the other beneficiaries who were covered by the living trust alleged that the nephew’s actions violated his fiduciary duties as a trustee.
Question(s) For Expert Witness
- 1. Please briefly describe your estate planning work.
- 2. Have you encountered similar disagreements regarding suspected failures in fiduciary duty? Please explain.
Expert Witness Response E-133270
I have a background as a private equity investor and venture capital investor. I have been a licensed professional fiduciary for 5+ years and now handle over $100 million in client assets. I have encountered many trust disputes and have extensive experience with warring family members. I have testified regarding the duties of a trustee and the standards that apply for a non-licensed versus a professional trustee.
This expert is the founder of a fiduciary service specializing in the management of trusts, conservatorships, estates, and guardianships. He has 25+ years of experience in private equity, venture capital, strategic planning, and mergers and acquisitions. He was the managing director of a venture capital firm for more than a decade. His private equity experience encompasses venture capital, start-up, mid-size and large capital company acquisitions, divestitures, and workouts. This expert holds an MBA and is a certified licensed professional fiduciary.