Conservatorship of Estelle Strader
Published: Mar. 25, 2000 | Result Date: Jan. 27, 2000 | Filing Date: Jan. 1, 1900 |Case number: SOP39241 Bench Decision – $817,000
Judge
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
Victor Whitney
(technical)
Bjorn Malmlund
(technical)
Defendant
William Gamble
(technical)
Samuel I. Miles
(medical)
Charles J. Cicchetti
(technical)
Facts
Farmers & Merchants Trust Company (F&M) served as conservator of the estate of Estelle Strader for several years. During that time, five annual accountings filed by F&M were approved by the court. In September 1994, Estelle Strader died. A few months before her death, her nieces had objected to F&MÆs handling of the conservatorship assets. StraderÆs relatives objected to the final conservatorship accounting by F&M. Subsequently, the parties filed supplemental accountings and requests for surcharge.
StraderÆs family claimed that F&M had breached its fiduciary duty as conservator, causing substantial damage to the conservatorship estate.
The relatives further alleged that F&M had misrepresented material facts and omitted other material facts in accountings approved by the court, thus misleading the court and interested parties such that the orders should be set aside.
The specific acts that constituted the breach of fiduciary duty included F&MÆs failure to sell and maintain a parcel of real property and permitting the daughter-employee of its co-conservator to live at the property rent-free for three years. Also, F&M did not properly sell or safeguard the conservateeÆs personal property. Other specific acts included investing in improper investments, failing to account for substantial missing stock dividends and paying income tax penalties and interest with conservatorship funds.
F&M contended that it had acted properly and it denied all of the objectors contentions and alleged that the parties had entered into a binding settlement.
F&M further sought that its most recent accounting be approved and that it be awarded conservatorÆs fees and attorneys fees.
Settlement Discussions
Several weeks before trial, F&M made its last settlement offer to resolve the case if the objecting relatives paid F&M $20,000 towards its attorneys fees. This offer was rejected by the relatives.
Other Information
Trial held before retired judge Jerry K. Fields (by reference). Decision adopted in its entirety by Hon. Richard F. Charvat, judge of the Superior Court.
Length
nine days
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