Baldus v. Bank of California

This case involves a claim of breach of trust based on the trustee’s failure to diversify trust assets.

The Bank of California, a national association (“Bank”), trustee of Raymond Krueger’s testamentary trust, appeals from a judgment which awarded to the remainderman beneficiaries, Ronald and Bruce Baldus, 1 $108,159 for damages which the trial court concluded “they incurred as a result of the bank’s failure to diversify 80% of the National Lead stock within one year after receipt of the original trust assets.” Conclusion of law No. 9, in part.

The will of Raymond Krueger, who died in September…