In re Thompson Trust

The Objector to the Trustees’ 2008 annual report appeals the district court’s grant of the Trustees’ motion for summary judgment. We affirm in part, reverse in part, and remand.

I. Background Facts and Proceedings.

The Thompson Trust (the Trust) was originally created in 1912 and will terminate in 2018. In July 2009, the five current Trustees1 filed their annual report reflecting the activities of the Trust for the calendar year 2008. Arabella Decker, one of the many income beneficiaries of the Trust, filed an objection to the report on September 14, 2009, stating,

[T]he proposed allocation of…