When you select someone to serve as a trustee or executor, you expect they will act in your best interest. If someone in such a position of trust breaches that obligation, they might be liable for a breach of fiduciary duties.
Fred Houston’s wife died, leaving him a life insurance policy. Hanh Williams helped Houston collect the insurance proceeds and over time, became involved in all aspects of his financial affairs, including his oil and gas interests. Houston gave Williams his power of attorney the next year.
Then, approximately two years later, Houston formed a trust and made Williams the trustee. The trust contained almost all of Houston’s assets. If either Houston or Williams died, the trust would terminate. Houston then executed a will that left a few specific bequests, with the remainder of his estate to go to Louisiana State University (“LSU”). Houston subsequently passed away, and Williams filed for probate.