Illinois Appellate Court
Civil Court
Breach of Fiduciary Duty
Petitioners filed a claim for breach of fiduciary duty against respondent, alleging that respondent failed to name them as beneficiaries of a decedent’s non-retirement accounts as the decedent has instructed her to do. The trial court granted respondent’s motion to dismiss for lack of standing and petitioners appealed. The appellate court affirmed, finding that the trial court properly ruled that petitioners lacked standing to pursue a cause of action for breach of fiduciary duty because they were not named beneficiaries of the accounts and did not establish that they possessed some personal claim, status, or right to the accounts. (PETERSON, concurring and ALBRECHT, dissenting)