Legal Opinion
Brian French v. Wachovia Bank
Court of Appeals for the Seventh Circuit
Decided July 17, 2013No. 11-2781, 11-3437PublishedCited by 5 opinions
1Opinion of the Court
SYKES, Circuit Judge.
This case raises questions about the duties of loyalty and prudence in the law of trusts. Jim French founded a successful manufacturing firm in 1968 and later sold it for a handsome sum. As part of his estate plan, French executed two interlocking irrevocable trusts to benefit his four children upon his death. In 2004 he decided that his trust company was not meeting his investment goals and moved the accounts to Wachovia Bank, N.A.
Among the underperforming investments in the trust portfolio were two whole life insurance policies. After months of evaluation and…
2Cases cited28 opinions
- Firestone Tire & Rubber Co. v. BruchSupreme Court of the United States · 1989
- Robert Johnson v. G.D.F., IncorporaCourt of Appeals for the Seventh Circuit · 2012
- Central States, Southeast and Southwest Areas Pension Fund, and Howard McDougall Trustee v. Thomas C. Fulkerson and Dolly S. FulkersonCourt of Appeals for the Seventh Circuit · 2001
- Central States, Southeast and Southwest Areas Pension Fund, a Pension Trust, and Howard McDougall Trustee v. Gary L. White and Inge T. WhiteCourt of Appeals for the Seventh Circuit · 2001
- Eugene Dupont, Iii, Cross v. Southern National Bank of Houston, Texas, Trustee, CrossCourt of Appeals for the Fifth Circuit · 1985
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3Cited by5 opinions
- Chicago Regional Council of Carpenters Pension Fund v. Schal Bovis, Inc.Court of Appeals for the Seventh Circuit · 2016
- Whirlpool Corporation v. Wells Fargo Bank, N.A.Court of Appeals for the Seventh Circuit · 2020
- In re: Trust Under Item TenCourt of Special Appeals of Maryland · 2024
- Whirlpool Corporation v. Wells Fargo Bank, N.A.Court of Appeals for the Seventh Circuit · 2020
- Whirlpool Corporation v. Wells Fargo Bank, N.A.Court of Appeals for the Seventh Circuit · 2020