A Fulton County jury has found that the trustee of a fund established to benefit descendants of Coca-Cola founder Asa Candler must re-pay the fund more than $1.1 million to make up for improper disbursements to the fund’s one-time beneficiary, Charles Howard “Buddy” Candler III, Asa’s grandson, who died in 2005 at the age of 75.
The trust was established by Buddy Candler’s wife, Claire Clement Candler, the year before her death in 1997. The terms of the marital trust, as explained by plaintiffs’ attorneys Craig M. Frankel and Brian M. Deutsch of Gaslowitz Frankel, included stipulations that Buddy Candler was to be provided any income generated by the trust but that the principal amount, some $2 million of Claire Candler’s own family money, was not to be expended except under certain circumstances.
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