NC Illinois Trust Co. v. First Illini Bancorp Inc.

Plaintiff NC Illinois Trust Company (Trustee), as trustee of the John Golofsky trust, filed suit against defendant First Illini Bancorp, Inc. (Bank), alleging that Bank breached its fiduciary duty as the executor of the estate. The jury returned a verdict in favor of Trustee. Bank appealed and Trustee cross-appealed. For the following reasons, we affirm in part and reverse in part.

FACTS

Bank became the executor and trustee of the Golofsky estate and trust after a corporate merger. John Golofsky left a widow, Zoe Golofsky, and a daughter, Marilyn Urena. Each received successive life estates…