A-12-0611, In re Estate of Sheen. J.H. Schroeder, Denzel Snow, and Leroy Herder (Appellants) v. Janene M. Feikert and Allen W. Sheen (Appellees)
County Court for Buffalo County, Judge Graten D. Beavers
Attorneys for Appellants: Brian E. Jorde and Brandon B. Hanson, of Domina Law Group
Attorneys for Appellees: Kent A. Schroeder and Luke M. Simpson, of Ross, Schroeder & George
Civil Action: Trust administration proceeding.
Action Taken by Trial Court: The county court denied Appellants’ motion for permission to sell the trust property and instead ordered them, as co-trustees, to distribute the trust property to each of the three beneficiaries according to their proportionate interests in the trust.
Assignments of Error on Appeal: Appellants assign that the county court erred in ordering distribution of the trust property without regard for (1) the trustees’ statutory rights to retain a reasonable reserve for the payment of debts, expenses, and taxes, and (2) the trustees’ common law right to retain trust property for payments of debts owed to the trust by the beneficiaries.