Shriners Hospital For Crippled Children v. Gardiner
152 Ariz. 527, 733 P.2d 1110 (1987)
Nature of the Case
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Facts
Testatrix established a trust in which the income was to benefit her daughter Mary Jane (D) and her daughter-in-law, and her two grandchildren, Charles and Robert. The remainder was to go to the Shriner's Hospital for Crippled Children (P). Testatrix named Mary Jane as trustee, Charles as first alternate trustee, and Robert as second alternate trustee. D placed the trust assets with a brokerage house. However, Charles, who was a stockbroker, made most of the investment decisions, and at some point, embezzled over $300,000 from the trust. P brought an action to surcharge D for the amount of the embezzled funds. The trial court denied the petition but was reversed on appeal. D appeals.
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