Publications

Doermer v. Oxford Financial Group, LTD.

Federal 7th Circuit Court
Civil Court
Trusts
Citation
Case Number: 
No. 17-1659
Decision Date: 
March 7, 2018
Federal District: 
N.D. Ill., E. Div.
Holding: 
Affirmed

Dist. Ct. did not err in dismissing plaintiff’s action against defendant-financial advisor, where plaintiff alleged that defendant rendered negligent advice to plaintiff’s sister regarding management of trust assets, since plaintiff, as co-trustee and beneficiary of said trust, lacked capacity to bring instant action. Dist. Ct. had diversity jurisdiction to consider instant complaint that had been removed by defendant from state court, since plaintiff and defendant were citizens of different states, and plaintiff’s effort to join his sister as “involuntary plaintiff” under Rule 19 that would have destroyed diversity jurisdiction was unavailing, since there is no authority that would have allowed Dist. Ct. to join non-party as plaintiff in state-court lawsuit. Also, applicable law barred plaintiff from suing defendant in plaintiff’s capacity as trustee without consent of at least one of two other trustees, and plaintiff had failed to obtain said consent. Moreover, plaintiff, as trust beneficiary, could not sue third-party on behalf of instant trust.