Benton v. UMB Bank

Summary

In this trial, the family of Thomas Hart Benton sues UMB Bank, co-trustee of artist Thomas Hart Benton’s trust. Plaintiffs claim that the bank mismanaged the estate and sold assets off at prices below market value after failing to hire proper experts to appraise the pieces. The family argues that these sales, in addition to failing to license intellectual property appropriately, led to the trust losing significant value.

Defendant UMB Bank refutes these claims, asserting that it complied with professional and ethical standards. Additionally, representatives for UMB insist that the Benton family was involved in decisions regarding art sales.