SERENA KONRARDY and CARRIE RIGDON, n/k/a CARRIE BURMEISTER, Plaintiffs-Appellees,
VINCENT ANGERER TRUST and DEWITT BANK & TRUST COMPANY, as Trustee of the Vincent Angerer Trust, Defendants-Appellants.
from the Iowa District Court for Clinton County, Mark R.
defendants appeal the order denying their motion for summary
Elliott R. McDonald III and Ryan F. Gerdes of McDonald,
Woodward & Carlson, P.C., Davenport, for appellants.
J. DeLange II, Davenport, for appellees.
Considered by Vaitheswaran, P.J., and Doyle and Mullins, JJ.
defendants, the Vincent Angerer Trust and DeWitt Bank &
Trust Company, applied for interlocutory appeal of the order
denying their motion for summary judgment. The Iowa Supreme
Court granted their application and transferred the case to
this court. Having considered the claims before us, we
Background Facts and Proceedings.
Angerer established the Vincent Angerer Trust in 1998. The
trust document provides that upon Angerer's death, the
trustee divide the estate into equal shares for each of
Angerer's five siblings. Each share would constitute a
separate trust to provide for the siblings and their
surviving spouses during their lifetime. When both a sibling
and the sibling's spouse died, the trust document
provides that the trustee distribute that trust share to the
living descendants of that sibling.
died in May 2010. Because one of Angerer's siblings and
her spouse had predeceased Angerer, their shares of the trust
were immediately distributable to their descendants-Serena
Konrardy and Carrie Burmeister. Although the trustee did not
pay their distribution until October 2011, it determined
their shares based on the net value of the trust assets at
the time of Angerer's death, which was $1, 751, 260.98.
trust assets increased in value after Angerer's death.
Because the trustee re-valued the trust assets when another
of Angerer's siblings died in 2013, the descendants of
that sibling received a greater distribution than that
received by Konrardy and Burmeister.
March 2017, Konrardy and Burmeister filed this action against
the Vincent Angerer Trust and DeWitt Bank & Trust Company
as its trustee. They asked the court to order the trustee to
determine their shares based on the trust's value at the
date of distribution rather than at the date of Angerer's
defendants moved for summary judgment, arguing in part the
action was untimely and the language of the trust requires
the distribution to Konrardy and Burmeister be based on the
value of the assets at the date of Angerer's death. The
district court denied defendants' motion, finding a
genuine issue of material fact existed concerning whether the
action is time barred. It also determined the trust's
language does not, as a matter of law, require distributions
to Konrardy and Burmeister be made based on the date of
Angerer's death values.
Scope and ...