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McGinley v. Bank of America, N.A.
Supreme Court of Kansas (2005) | 279 Kan. 426; 109 P.3d 1146; 2005 Kan. LEXIS 147
TL;DR: Grantor sued trustee bank after Enron stock in her revocable trust plummeted. Court held the bank was not liable, as the grantor had directed retention of the stock and exonerated the bank via a letter, consistent with powers reserved in the trust.
Legal Significance: Affirms that a trustee of a revocable trust is shielded from liability for investment losses when acting pursuant to the grantor's explicit written directions and exculpatory provisions, especially where the trust instrument reserves investment control to the grantor.