Estate Attorney Is Denied a Summary Judgment for Alleged Incorrect Valuation of Gifts of Stock—Malpractice Case Proceeds

BVLaw
Court Case Digests
May 4, 2022
5411 Grocery Stores
445110 Supermarkets and Other Grocery (except Convenience) Stores
malpractice (legal), malpractice (appraisal)
appraisal, breach of fiduciary duty, estate & gift, stock, malpractice, estate planning, stock valuation, summary judgment

Sullivan v. Loden
2022 U.S. Dist. LEXIS 81293; 2022 WL 1409567
Federal Court
Hawaii
United States District Court
Derrick K. Watson

Summary

In this malpractice case against an estate attorney, the attorney was denied a summary judgment. The primary issue related to the attorney’s valuation of stock of a family business that was gifted to two of the four children of the decedent. While an “equalization payment” was made to each of the two remaining children, one of these two sued the attorney for both breach of fiduciary duty and for undervaluing the stock gifted, resulting in an underpaid equalization payment.

See Also

Sullivan v. Loden

In this malpractice case against an estate attorney, the attorney was denied a summary judgment. The primary issue related to the attorney’s valuation of stock of a family business that was gifted to two of the four children of the decedent. While an “equalization payment” was made to each of the two remaining children, one of these two sued the attorney for both breach of fiduciary duty and for undervaluing the stock gifted, resulting in an underpaid equalization payment.