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FRENCH v. WACHOVIA BANK, N.A.

Nos. 11-2781, 11-3437.

722 F.3d 1079 (2013)

Brian FRENCH, David French, Jeanna French, and Paula French Van Akkeren, Plaintiffs-Appellants, v. WACHOVIA BANK, N.A., Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 17, 2013.

Attorney(s) appearing for the Case

Christopher T. Hale (argued), Attorney, Hale & Wagner, Milwaukee, WI, for Plaintiffs-Appellants.

Michael B. Apfeld (argued), Attorney, Godfrey & Kahn S.C., Milwaukee, WI, for Defendant-Appellee.

Before EASTERBROOK, Chief Judge, and WOOD and SYKES, Circuit Judges.

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...

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