Chapter 10 - THE TRUSTEE HEARING
The corporate co-trustee petitioned the probate court.
Questions:
Were Richard’s related-party transactions proper?
Should he remain trustee?
Should North Bridge repay fees?
Richard argued:
all arrangements disclosed,
family-office work real,
trust grew substantially during his tenure,
no beneficiary missed education funding.
True.
The trust had performed well.
That complicated everything.
Then forensic accounting.
Market-value estimate showed:
$680,000 clearly excessive or duplicative.
Another $390,000 questionable.
Remaining fees reasonably supported.
Not $2.1 million stolen.
Precision mattered.
Richard’s attorney said:
“Bad pricing is not theft.”
Rachel agreed.
Then:
“Undisclosed control and duplicate billing can still breach fiduciary duties.”
The court appointed an interim independent trustee pending full review.
Richard lost control temporarily.
Not everything.
David’s company contract was suspended.
David panicked.
May you like
Then tried calling Mark.
Mark did not answer.
