United States District Court, E.D. Arkansas, Jonesboro Division
CENTENNIAL BANK, Guardian of the Estate of Mary Moore Stiny PLAINTIFF
REN A WOOD DEFENDANT
Marshall Jr., United States District Judge
Court appreciates the parties' joint status report,
Nq 308. The Court will address the pending issues in
the same order as the parties.
Court notes and approves Centennial's dismissal of the
case against The First National Bank of Lawrence County.
Court appreciates the contact list for potential remainder
Court is glad to hear that all the roof-related repairs on
the house at 502 Old Pocahontas Road in Walnut Ridge,
Arkansas have been made.
the reasons stated on the record at the end of the trial, to
implement this Court's Judgment, Nq 295, and
pursuant to CAL. Prob. CODE § 15660(d), the Court
appoints G.S. Brant Perkins as co-trustee of the
Survivor's Trust of the Elijah and Mary Stiny Trust dated
June 6, 2000, as amended, on the terms outlined in his 7 June
2019 letter, Nq 308-1 at 5. As the Court declared,
Nq 295, Rena Wood remains cotrustee of the Survivors
Trust. The Court appreciates Perkins's willingness to
serve. The Court confirms that Wood and Perkins must agree on
all Trust-related actions. And the Court directs that they
must seek Court approval before making any payment or
expenditure in excess of $25, 000. In accordance with Article
12 of the Trust, and California law, CAL. PROB. CODE §
15602, Perkins must post a surety bond. All material things
considered, including the payment/expenditure limitation, a
$100, 000 bond will be sufficient to protect the
beneficiaries' interests. The cost of the bond is an
expense chargeable to the Trust. CAL. PROB. CODE §
15602(d). Perkins must file the proposed bond by 30 August
6. The Court agrees that the guardianships of Mrs.
Stiny's person and estate should be ended. The Court
relieves Joyce Roberts as the guardian of Mrs. Stiny's
person. The Court approves Centenniars final accounting,
Nq 308-1 at 10-16. The Court approves
Centennial's final fee request, Nq 308-1 at 20.
And the Court approves Lyons & Cone's reasonable
attorney's fees and expenses for guardianship-related
work, Ns 308-1 at 21. Centennial's embedded
motions covering all this ground are granted. The Court
authorizes Centennial to pay itself and its lawyers, deliver
all Mrs. Stiny's property to the personal representative
of her estate, and execute all documents necessary to
effectuate that delivery. Centennial should file a short
confirming report by 31 July 2019. The Court thanks
Centennial, and its lawyers, for their service on behalf of
Court understands that other matters have occupied Wood's
time in recent weeks. The Court notes Wood's confirmation
that the Trust did not pay any part of the attorney's
fees she incurred in trust-related litigation. Further report
on these fees due by 31 July 2019. The Court would appreciate
a comprehensive filing, which gathers in one place all
Court notes and approves the $252, 694.23 deposit in Bank of
America account No. xxxxx-5307 by Linder & Associates.
Court appreciates the report on the Chase Bank account.
Court also appreciates the report on the Exemption Trust.
This Trust needs administration, too. There is, however, no
current trustee. For coordination with the Survivor's
Trust, efficiency, and other good cause, and pursuant to CAL.
Prob. CODE § 15660(d), the Court appoints Rena Wood and
G.S. Brant Perkins as co-trustees of the Exemption Trust (and
any sub-trusts into which it may eventually be divided) of
the Elijah and Mary Stiny Trust dated June 6, 2000, as
amended. These appointments are subject to the right of any
remainder beneficiary to object in due course after notice.
As with the Survivor's Trust, the co-trustees of the
Exemption Trust must act with unanimity and seek Court
approval before making any payment or expenditure in excess
of $25, 000. Perkins's $100, 000 surety bond must also
cover his work as co-trustee of the Exemption Trust (and any
subtrusts). The Court directs Wood and Perkins to confer and
propose a plan for notifying the potential remainder
Court appreciates the report of good progress on the tax
issues. The Court previously approved engaging CPA Dean
Fredgant of SingerLewak to prepare the returns. Nq 129
& 125. Fredgant now works for SL Biggs, a division
of SingerLewak. The Court directs the Clerk of Court to pay
SL Biggs c/o Dean L. Fredgant $5, 000 as an additional
retainer. The Court authorizes Wood and Perkins to execute
the proposed engagement letter with SL Biggs, Ns 308-2 at
9-11, with these changes: All but the last sentence of
the first paragraph on page 3 must be deleted. The Court does
not approve the proposed limitations period, the punitive
damages waiver, or the compensatory damages limitation. The
Court specifically authorizes Wood and Perkins to execute any
needed IRS Form 2848, authorizing Fredgant and SL Biggs to
act as attorney-in-fact with the Service on any tax issue
related to any Stiny Trust or subtrust. Both co-trustees must
review and approve the tax returns before they're filed.
And the Court authorizes the co-trustees to direct any needed
report from Centennial Bank on payments and delivery due by
31 July 2019. Lilly should also be in a position to account
for Stiny's final medical expenses and funeral expenses
by that date. If there are any excess funds, Lilly should
deposit them in Bank of America account No. xxxxx-5307.
Further report from Wood on trust-related attorney's fees
also due by 31 July 2019. Proposed bond due by 30 August
2019. Report from ...