Fulp v. Gilliland

After her husband died, Ruth placed the family farm into a revocable trust naming herself as primary beneficiary, trustee, and settlor, with her children Harold Jr. (defendant), Nancy (plaintiff), and Terry to receive the remaining assets once the trust became irrevocable at Ruth's death. The trust let Ruth revoke it for any reason and stated it was for her own use and benefit, while also listing duties to administer the trust for beneficiaries' interests and treat multiple beneficiaries impartially. Ruth sold the farm to Harold Jr. at half its value; Nancy objected, arguing Ruth owed the children a fiduciary duty as remainder beneficiaries that the sale violated. The trial court agreed with Nancy, and the appeals court instead reasoned the sale was really an amendment to the trust made by Ruth as settlor, not a breach of trustee duty.