Estate of Baldwin
Maine Supreme Judicial Court
442 A.2d 529 (1982)
- Written by Sean Carroll, JD
Facts
Stephen Baldwin’s (Baldwin) will divided his estate into two equal shares, with one share going to his wife, Tracy Baldwin, and the other share going to his three children from a previous marriage. The primary asset of Baldwin’s estate was a general store that he owned. After Baldwin’s death, Tracy assumed full operational control of the store. After becoming concerned with the store’s operations, Mrs. McKane (plaintiff), the children’s mother and Baldwin’s ex-wife, asked the executor of Baldwin’s will, The Connecticut National Bank (the bank) (defendant), to supervise Tracy’s handling of the store’s business. The bank declined. McKane filed a petition in Knox County Probate Court, asking the court to require Tracy to give account of the store’s operations, and asking that the bank be subject to surcharge if it was found that the bank breached its fiduciary duty to the children. The probate court found that the bank had met its fiduciary obligations. McKane appealed.
Rule of Law
Issue
Holding and Reasoning (McKusick, C.J.)
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