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Konrardy v. Vincent Angerer Trust

Court of Appeals of Iowa

October 10, 2018

SERENA KONRARDY and CARRIE RIGDON, n/k/a CARRIE BURMEISTER, Plaintiffs-Appellees,
v.
VINCENT ANGERER TRUST and DEWITT BANK & TRUST COMPANY, as Trustee of the Vincent Angerer Trust, Defendants-Appellants.

          Appeal from the Iowa District Court for Clinton County, Mark R. Lawson, Judge.

         The defendants appeal the order denying their motion for summary judgment. AFFIRMED.

          Elliott R. McDonald III and Ryan F. Gerdes of McDonald, Woodward & Carlson, P.C., Davenport, for appellants.

          Harold J. DeLange II, Davenport, for appellees.

          Considered by Vaitheswaran, P.J., and Doyle and Mullins, JJ.

          DOYLE, JUDGE

         The defendants, the Vincent Angerer Trust and DeWitt Bank & Trust Company, applied for interlocutory appeal of the order denying their motion for summary judgment.[1] The Iowa Supreme Court granted their application and transferred the case to this court. Having considered the claims before us, we affirm.

         I. Background Facts and Proceedings.

         Vincent 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.

         Angerer 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.

         The 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.

         In 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 death.

         The 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.

         II. Scope and ...


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