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IN RE FLORENCE Y. WALLBAUM AGREEMENT

No. 25849.

813 N.W.2d 111 (2012)

2012 S.D. 18

In re the Administration of the FLORENCE Y. WALLBAUM REVOCABLE LIVING TRUST AGREEMENT.

Supreme Court of South Dakota.

Decided March 7, 2012.

Attorney(s) appearing for the Case

Michael D. Bornitz , Bobbi L. Thury of Cutler & Donahoe, LLP, Sioux Falls, South Dakota, Attorneys for appellants Lori Hoesing, Carla Malik and Lisa Brueckner.

Mitchell A. Peterson , Cheryle Wiedmeier Gering of Davenport, Evans, Hurwitz & Smith, LLP, Sioux Falls, South Dakota, Attorneys for appellee First Dakota National Bank.

SEVERSON, Justice.

[¶ 1.] Certain remainder beneficiaries of the Florence Y. Wallbaum Revocable Living Trust petitioned the trial court to interpret the terms of the trust and to determine whether the trustee breached its fiduciary duties. The trial court found the trust was ambiguous. After considering extrinsic evidence, the trial court found that the settler of the trust, Florence Wallbaum, intended for the trustee to use trust principal to maintain the Wallbaum...

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