Hoffman v. First Virginia Bank

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that when a trustee is granted “the widest possible discretionary powers[,]” such conferral does not permit actions taken if “the fiduciary acted dishonestly or in bad faith, or abused the discretion vested in it”
• holding that when a trust’s language gives the trustee full discretion over the investment of trust assets, “[i]n order to impose liability, therefore, it must be alleged and proved that the fiduciary acted dishonestly or in bad faith, or abused the discretion vested in it”
• affirming the trial court’s sustaining of a demurrer and noting that the “amended bill of complaint contained no allegation of fraud, bad faith, or conflict of interest on the part of the Trustee”
• unless trust provides otherwise, prudent person rule will be applied to asset management

Source: CourtListener parenthetical corpus (CC0).