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IN RE TRUSTEESHIP OF TRUST OF WILLIAMS

No. C4-00-2239.

631 N.W.2d 398 (2001)

In re Matter of the TRUSTEESHIP OF the TRUST Created Under the Last Will and Testament and Codicil thereto OF James T. WILLIAMS, Deceased.

Court of Appeals of Minnesota.

Review Denied September 25, 2001.

Attorney(s) appearing for the Case

Thomas L. Kimer, John F. Beukema, Bonnie M. Fleming, Faegre & Benson LLP, Minneapolis, MN, (for appellant Wells Fargo Bank Minnesota, N.A., f/k/a Norwest Bank Minnesota, N.A.).

Alan I. Silver, Charles E. Lundberg, Bassford, Lockhart, Truesdell & Briggs, P.A., and Norman M. Abramson, Patterson, Thuente, Skaar & Christensen, P.A., Minneapolis, MN, (for respondent Robert K. Williams).

Considered and decided by WILLIS, Presiding Judge, HALBROOKS and HANSON, Judges.

OPINION

WILLIS, Judge

In this surcharge action, appellant professional trustee challenges the district court's conclusion that, during the 1990-94 accounting period, trustees had a duty under Minn.Stat. § 501B.10 (1994) to diversify the assets of a trust. Appellant also contends that the district court abused its discretion by (1) calculating the surcharge from the beginning of the accounting period, (2) requiring appellant to reimburse to the trust...

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