Trusts and Estates

Ca. Trs. & Estates Quarterly 2023, VOLUME 29, ISSUE 4

LITIGATION ALERT

Written by Michael S. Brophy, Esq.*, Courtney A. Sorensen, Esq.*, Craig S. Weinstein, Esq.*, and Sara Z. May, Esq.*

A FINANCIAL INSTITUTION OWES AN INTENDED BENEFICIARY A DUTY OF CARE BECAUSE THERE IS A SPECIAL RELATIONSHIP BETWEEN THE FINANCIAL INSTITUTION AND THE INTENDED BENEFICIARY

Law Firm of Fox and Fox v. Chase Bank, N.A. (2023) 95 Cal. App.5th 182

The Second District Court of Appeal held that a financial institution has a special relationship with an intended beneficiary of an account and therefore owes that intended beneficiary a duty of care.

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