Last Will

Meding, et al. v. Fleet Bank, N.H., 91-E-029 (Sullivan, Jul. 22, 1993)

Plaintiffs are all of the children and grandchildren of Helen V. Meding, and are the sole income and remainder beneficiaries of the Helen V. Meding Trust (the Trust). The Trust names two cc-trustees, Attorney John L. Fairbanks and Dartmouth National Bank, the predecessor of defendant Fleet Bank - NH. The will appoints John Fairbanks as executor, and Dartmouth National Bank as alternate executor if Fairbanks dies or otherwise fails to qualify. On December 28, 1989, John Fairbanks was indicted by the Sullivan County- grand jury for theft. He immediately disappeared and has not yet been apprehended. There appears little doubt that Fairbanks, as executor, stole significant assets from the Meding Trust. Plaintiffs seek damages from defendant for the funds stolen by Fairbanks arguing that the Bank, as co-trustee, breached its fiduciary duties to-them as beneficiaries of the trust.
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