Papiernik v. Papiernik

544 N.E.2d 664 (1989)

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Nature of the Case

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Facts

An inter vivos trust with a bank serving as trustee was established. The settlor's wife and life beneficiary served in positions as trust advisors. The trustee could not sell, lease, or exchange, or reinvest assets of the trust without advisor approval. The advisors had joint authority to remove any trustee and appoint a successor with each having the power and duty to appoint a successor if the other ceased to act. Remainder beneficiaries brought this action to seek modification of the trust and injunctive relief against the trust advisors because of alleged abuses by the advisors. The court removed the trust advisors and modified the trust agreement by deleting that provision. This appeal resulted.