Estate of Ames v. Markesan State Bank

The estate of Chauncey C. Ames appeals from a judgment dismissing certain of its claims against the Markesan State Bank. The estate claims that the bank, both in its capacity as guardian and trustee, breached a Wisconsin per se rule against trustee and guardian self-dealing when it invested guardianship and trust assets in its own certificates of deposit (C.D.'s). Additionally, the estate argues that the bank breached its duty under the prudent person rule, sec. 881.01, Stats., by failing to invest all or a substantial portion of the trust assets in tax-free municipal bonds, an action which…