Carlena Tapella (Weintraub Tobin): Don’t Skimp On The Facts – Failure Of Fiduciaries To Make Full Disclosure Of Matters Set Forth In An Accounting May Be Considered Fraud (September 21, 2021)

Carlena Tapella, of Weintraub Tobin, has made available for download her article, Don’t Skimp On The Facts – Failure Of Fiduciaries To Make Full Disclosure Of Matters Set Forth In An Accounting May Be Considered Fraud, published in JDSUPRA. The abstract is as follows:

In the recently published case of Hudson v. Foster, 2021 Cal.App. LEXIS 737, the Court of Appeal for the Second Appellate District, Division Five, determined that a former conservatee who discovered that certain transactions in his conservator’s previously approved accounting were falsely reported, was under no obligation to comb through records to verify the truth of the representations made by the conservator in the accounting. The case is detailed with respect to the facts, but it puts fiduciaries on notice that full disclosure of material facts is required, and even slightly skewing the reporting of a transaction can be considered fraud.

Click here to view Carlena Tapella’s summary of Don’t Skimp On The Facts – Failure Of Fiduciaries To Make Full Disclosure Of Matters Set Forth In An Accounting May Be Considered Fraud.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.