A Louisiana court upheld a trust protector’s powers to change beneficiaries and approve early closure. (AI image)
Robert managed the company until his death in 2016. A Louisiana appeals court has upheld the powers of a trust protector in a family inheritance dispute involving a stepfather’s estate, ruling that he could change the future beneficiaries of a trust and require the trustee to seek his approval before ending it early. The same year, the couple also formed Wolf Family LLC, a company that owned commercial property. Robert and Clara each held half of the company, while their children had smaller ownership shares. After Clara’s death, the company needed a new manager. Argent Trust Company, which managed Jerry’s trust, was responsible for selecting one. Jerry wanted the position himself, while Drew nominated Scotty Stevens, who is married to Jennifer. Argent selected Stevens, leading Jerry to question Drew’s influence over the trust and the family property company.
The case involved a trust created in 2004 by Robert Andrew Wolf Jr. for his stepson, Gerald Wise, and a dispute over the authority given to Wolf’s son, Robert Wolf III, also known as Drew, according to the informationa available on Justia . The couple had made their wills in 2004, dividing their property equally among their children. The ruling was delivered by the Louisiana Court of Appeal, Third Circuit, which affirmed the lower court’s decision. The dispute arose after Robert and his wife, Clara Wise Wolf, died. Robert had two children, Drew and Jennifer, while Clara had a son, Gerald, known as Jerry. Robert created a trust for Jerry under his will and appointed Drew as its trust protector. Jerry later withdrew his objection to Stevens becoming the manager. However, he continued challenging the powers Drew held as trust protector. The dispute eventually reached the appeals court, which examined whether Drew could change the people named to inherit from the trust in certain circumstances and restrict the trustee’s power to end it early. Jerry approached the court seeking clarification about the powers Robert had given Drew in the trust document. He questioned whether Drew could direct the trustee on how to carry out its responsibilities and whether he could change the trust’s future beneficiaries.