Opinion ID: 1767700
Heading Depth: 1
Heading Rank: 3

Heading: Release From Liability

Text: Stephanie and Natasha next argue that the probate court erred in releasing Bank of America from liability. The probate court's order released Bank of America from its liability and all liability arising out its predecessors' administration of the trust. The letter opinion stated that the trustee is released from all liability as guardian of the estates in cases Nos. PR-87-209 and PR-88-48. As already noted, an accounting is an equitable remedy. A & P's Hole-In-One, Inc., supra . Further, it is designed to provide a means for compelling one, who because of a confidential or trust relationship has been entrusted with property of another, to render an account of his actions and for the recovery of any balance found to be due. A & P's Hole-In-One, 38 Ark.App. at 239, 832 S.W.2d at 863. In an accounting, the court must either issue an order for the amount due from the trustee where improper administration of the trust is found or issue an order that nothing is due. 1 Am.Jur.2d Accounts & Accounting § 67 (1994). The probate court considered the law and the facts and concluded that there was no misuse of funds by the trustee and nothing was due to the beneficiaries in the accounting. We do not find that the probate court was clearly erroneous in reaching this conclusion.