The plaintiff, a residual beneficiary of her father's estate, brought an action against the estate trustee, the estate's lawyers and accountants, and the purchasers of the deceased's shares in a family business.
The plaintiff alleged that the estate trustee breached her fiduciary duty by selling the shares without authorization and at an undervalue, and raised numerous objections on the passing of accounts.
The court found that the will authorized the sale of the shares, the estate trustee acted reasonably, and the shares were sold for fair market value.
The claims against all defendants were dismissed.
On the passing of accounts, the court fixed the estate trustee's compensation but reduced it to account for legal and accounting fees that were properly characterized as executor's work.
