Probate, Litigation
A trustee, appointed to oversee his deceased friend’s trust for the benefit of his minor children, diverted to his failing business more than $1 million in proceeds from a life insurance policy payable to the trust. The client was also accused, in a separate civil action, of misappropriating funds from the decedent’s business, which was operated by the trustee after his death. The client was charged with three felonies for theft of the life insurance proceeds and with perjury for lying to the Court in trust accountings. McManis Faulkner obtained a sentence for the trustee that included no prison time on the three felonies and dismissal of the criminal charges after reaching a favorable settlement of the civil action.