Estate of Falkenborg CA2/5

I. BACKGROUND

In 1992, Lynn and Donald’s parents, Marie (Marie) and Donald (Donald, Sr.) Falkenborg, created a family trust and named themselves trustees; Lynn was named as a successor trustee.1 The most significant asset in the trust was Marie and Donald, Sr.’s interest in a business they began and built, Borg Equipment & Supply, Inc. Under the terms of the trust, Marie and Donald, Sr.’s children would receive equal shares of the trust estate following their parents’ deaths. Donald, Sr. died in 2004 and Marie died in 2017. Prior to Donald, Sr.’s death, Marie executed a pour-over will which left all her property to the trust. In her will, Marie named Lynn as “first

1 Lynn was named as co-successor trustee with her brother William, who died in 2016. The trust did not name Donald as a successor trustee or as an alternate successor trustee.

2 alternative Executor” in the event Donald, Sr. predeceased her.2 The will contains a “no contest” provision that provides anyone who, either “directly or indirectly,” contests the probate of the will would receive one dollar rather than his or her otherwise bequeathed share or interest in her estate. Marie also appointed Lynn as her health…