Major Fiduciary Firm Is Going Out of Business

Article: Major Fiduciary Firm Is Going Out of Business


courthousesteps
February 8, 2011 at 9:30 am
Categories: Uncategorized
URL: http://wp.me/p1e3qW-1f

Major Fiduciary Firm Is Going Out of Business

Please read the following excerpt discussing Sun Valley Group's illegal and improper actions.

SVG's activities must be continually monitored! Get the word out and forward this story to your family and friends!

The company has been a focus of an ongoing Republic investigation of Maricopa County Probate Court that found some fiduciaries and their lawyers charged fees that drained the life savings of clients. Judges charged with overseeing these cases rarely stepped in to limit or reduce fees, even when vulnerable adults ended up on state assistance programs.

Sun Valley cases examined by the newspaper included a widow who was charged more than $11,500 a month in costs; a millionaire who says Sun Valley fought to stay in control of his finances even after the company agreed to exit his case; and a woman who says that in less than 11 months, Sun Valley sold her mother's family home and ran up $108,000 in fees and legal costs that nearly wiped out her mother's life savings.

Bevy of accusations

Some relatives of wards under Sun Valley Group's care say the company performed needless tasks and created unnecessary legal delays to run up costs. They accused the company of selling off assets without regard to the wishes of their wards.

'It is a victory'

Clair DiPardo, who has been embroiled in a costly two-year legal battle with Sun Valley Group over her mother's care, said she views Sun Valley's demise as good news.

"It is a victory," she said.

DiPardo said the closing of Sun Valley is likely the direct result of publicity and lawsuits filed against the company in the past year, including ones filed on her mother's behalf.

"My suspicion is that now they are going to cash out and run," she said.

Relatives, probate-reform advocates and as many as 40 lawyers jammed a courtroom Monday while presiding Probate Judge Rosa Mroz set dates to determine the fate of Sun Valley clients and cases.

Frenette, who said little during the two-hour hearing, sat behind his lawyers.

He sought to have most of his cases turned over to Yuma fiduciary Lisa Price, who now says that she will be moving her operation to Phoenix.

Read the full article here.

http://www.azcentral.com/arizonarepublic/news/articles/2011/02/08/20110208arizona-fiduciary-firm-closing.html
 
Editor's Note:  There are many "Sun Valleys" within the perview of the Probate Court of Cook County. Long may their demise continue.  Lucius Verenus, Schoolmaster, ProbateSharks.com