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The Illinois Appellate Court affirms the dismissal of an attorney malpractice action because the complaint draws vague legal conclusions and fails to show what the accused attorney could have done differently to avoid negligence. In Uskup v. Johnson (Ill. App.
READ MOREA roundup of elder law news and practice development articles culled from news sources across the nation during the weeks of May 31, 2023, to June 5, 2023.
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FROM THE KNOWLEDGE BANK
An Indiana-based pooled special needs trust has been accused of passing along some $2.4 million in legal fees to the trust beneficiaries without explaining what the fees were actually used for.
In the present case, an Indiana man with disabilities has filed suit against his pooled trust, the National Foundation for Special Needs Integrity, claiming that the trust violated its fiduciary duty by spending too much money on legal fees and other expenses. According to the lawsuit, which the man is is seeking to turn into a class action, Special Needs Integrity paid $2.4 million for legal fees over a four-year period and also paid out excessive trustee fees. The suit claims that the trust failed to provide the beneficiaries with adequate information detailing the expenses and why they were incurred.
While we don’t know yet whether the trust is truly at fault, this case provides a warning for any attorney who recommends a pooled trust to a client. Before providing the name of a pooled trust, it is important to review the trust's financial statements, including its previous accountings, to make sure that funds are not being wasted on administrative fees. While it is certainly ethical to charge a trustee's fee and to pay for legal advice, a pooled trust should not be spending an excessive amount of money on these expenses. If a pooled special needs trust refuses to give a prospective client these figures, or is unable to adequately explain high charges, then the potential beneficiary should probably look elsewhere for services.
To read the full article about the lawsuit, click here.
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