Trustee Compensation Dispute Article

An article in the April 2005 issue of Worth magazine by Douglas McWhirter entitled Broken Trusts provides an interesting discussion of scandals at family charitable foundations which revolve around trustee compensation issues.

For example, the article discusses a Texas case where a jury ordered two trustees for repay $7.5 million of property they improperly took from the Carl B. and Florence E. King Foundation in Dallas plus $14 million in punitive damages.