Matthew Keenan lost an emotional legal battle with the bank he decided to dismiss as the court-appointed conservator of his estate. But he might change Colorado law.Last week, the state appeals court upheld a ruling that Colorado State Bank and Trust reasonably contested the efforts of Keenan, a man who recovered from a catastrophic brain injury, to terminate the bank as his conservator.
But the judges left open the question of whether the bank can collect $217,466 from Keenan for the costs of fighting his bid for independence.
In the wake of his case, pending legislation would not allow Colorado guardians and conservators to "oppose or interfere" with petitions to oust them.
Keenan, a 46-year-old man who awoke from a coma 10 years ago and regained the use of his body and brain, contended Colorado State Bank and Trust had an inherent conflict of interest when it used his money in a fight to retain control of his assets.
But the appeals court judges held that under Colorado law, "opposition to the protected person does not necessarily breach the conservator's fiduciary duty."
They rejected a Boulder court decision to award the bank all of its legal expenses and costs from Keenan's trust funds, however, and ordered the court to review what compensation would be fair.
Spencer Crona, an attorney for the bank, called the court decision well-reasoned and extensively analyzed.
Chester "Skip" Morgan, Keenan's attorney, was shocked at first. "I was kind of sleepless and upset for two days after I read the opinion," he said. "I couldn't believe it."
But he praised the appeals court for vacating the award of legal fees, as well as legislation forbidding guardians and conservators to oppose petitions to terminate their services.
Keenan agreed.
"We may have lost this battle," he said, "but we have won the war by assuring that this kind of treatment never will happen again."
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One Man's Probate Court Loss Might Change Colorado Law
Very... Nicee... Blog.. I really appreciate it... Thanks..:-)
ReplyDeleteI doubt that the law will change though because it's too beneficial to fiduciaries.
ReplyDeleteI am sorry you lost, Mathew. I hope you find and join NASGA.
ReplyDeleteWho are they kidding? The bank "reasonably" contested Matthew's efforts?
ReplyDeleteReally? Do they think anybody's gonna fall for that?
If you have the problem of big money loss to phony fee bills, file an inquiry to IRS to find out if the fid has paid taxes.
ReplyDeleteIf you know for sure, you can file a qui tam action and get a reward.
Matthew Keenan's case shows how this racket benefits the guardians and the conservators. Those who are given a 2nd chance at life, recovering from horrific medical problems.
ReplyDeleteFollow the $$ who is drafting laws, who is contributing campaing $ who the special interest groups are, the lobbyists = bribes to write laws in their favor = the American Way!
Mr. Keenan don't give up the battle this is one war you can win....change the laws if not by your efforts? Than others will fall into the same trap all by design.
Yu should have won that battle, too, Mr. Keenan. You got shafted.
ReplyDeleteI feel so bad that you can't recover your money.
ReplyDeletethis is big business very big business with huge profits and some of these conservators and guardians are listed as non profits ho ho ho non profit can you imagine that line?
ReplyDeleteFiduciaries should be allowed to object, but pay out of their own pocket!
ReplyDeleteAnd the judge sure as hell had better put on one helluva meaningful due process haring!
The firm that the banks hired to take down Matthew www.wadeash.com/
ReplyDeleteWade Ash Woods Hill & Farley, P.C. was named Best Law Firm in Denver Colorado - probably by the blood sucking peer attorneys. These law firms should be ASHAMED for what they were involved in and the fraud that was done to Mr. Keenan "on his behalf".