The Wyoming Supreme Court has issued an order enjoining Freedom resident, Clyde Wallace Stock, from engaging in the unauthorized practice of law.
Stock, a retired dentist, prepared a trust agreement for two elderly Freedom residents. The trust agreement contained a number of unusual provisions, including vesting ownership of the couple’s real and personal property in Stock and a cohort who served as trustees; entitling the trustees to “health, life and retirement insurance” and reimbursement of other expenses; entitling the trustees to determine their own compensation; and releasing the trustees from liability for “any loss or damage occurring” as a result of their conduct.
In addition to the trust agreement, Stock prepared powers of attorney for the couple and a quitclaim deed conveying the couple’s real property to the trust. After the elderly couple’s passing, it was necessary for their probate attorney to obtain title insurance and take other action to mitigate the effect of the quitclaim deed.
These expenses totaling $4,464 were paid the couple’s adult nephew. In its order enjoining Stock from the practice of law, the Court ordered Stock to reimburse the couple’s nephew, to pay fines totaling $4,000 and to reimburse the Wyoming State Bar for hearing costs in the amount of $5,877.