The SD Supreme Court handed down one decisions this morning, holding, inter alia:

1. Trustees protected against claim of imprudent investment;

Summary follows:

REDLIN TRUST v. FIRST INTERSTATE BANK, 2024 S.D. 5: Daughter of deceased trustor brought suit against co Trustees (her brother and a bank) for imprudent handling of funds. Some $3 million in cash assets were simply deposited in a money market account, earning only modest interest income. Daughter proceeds on numerous theories including breach of fiduciary duty, gross negligence, & bad faith. The trial court granted summary judgment for the Defendant Trustees, relying, inter alia, on the provision of the trust instrument which established a waiver of the Prudent Investor Rule. The SD Supreme Court affirmed. This decision is unanimous (5-0) with opinion authored by Justice Kern.

These decisions may be accessed at

http://ujs.sd.gov/Supreme_Court/opinions.aspx .