A Matter Of Trust

The Wisconsin Supreme Court accepted the consensual license revocation of an attorney admitted in 1982 who has not practiced since 1985.

Respondent faced a four-count complaint in which the principal allegations involved misconduct in connection with the administration of a trust

Attorney Batterman is the founder, registered agent, and principal of Financial Fiduciaries and the president and majority shareholder of WTC, Inc. (WTC), the sole member of Financial Fiduciaries. In April 1988, J.G. established and funded a revocable living trust which provided that if J.G.’s wife should predecease him, the assets remaining in the trust, together with any assets received into the trust, shall be distributed to the following charities: 25% to the Diocese of the Catholic Church for Superior, Wisconsin, for educational purposes; 25% to Bruce High School, Bruce, Wisconsin, to fund scholarships for students pursuing a college education; 25% to the Alzheimer’s Association for research; and 25% to the American Cancer Society for research.

Issues arose concerning distribution of trust assets after J.G. died; Respondent was removed as trustee

On March 1, 2017, Attorney Batterman was deposed in the trust matter. In his sworn deposition testimony, he acknowledged that J.G. never indicated he wanted his gifts to be anonymous. Attorney Batterman also admitted that while he stated to the American Cancer Society that the trust was a discretionary trust, [cp-trustee] Vigil in fact had no discretion over the trust.

Further issues

The OLR’s complaint also alleged that the American Cancer Society filed a complaint with the Securities Exchange Commission (SEC) against Financial Fiduciaries and Attorney Batterman. The SEC investigated the complaint. In a March 5, 2018 order, the SEC found that Attorney Batterman caused Financial Fiduciaries’ violations of various sections of the Advisers Act, which prohibits an investment advisor from engaging in a transaction, practice, or course of business which operates as a fraud or deceit upon a client or a prospective client and requires an advisor to take enumerated steps to safeguard client assets over which it has custody. In addition, the SEC found that Attorney Batterman willfully made untrue statements of material fact in a registration application or report filed with the Commission or willfully omitted to state material facts. The SEC ordered Financial Fiduciaries to pay a civil money penalty in the amount of $40,000, and it ordered Attorney Batterman to pay a civil money penalty in the amount of $20,000.

Respondent was also charged with a driving under the influence offense.

On October 19, 2021, a jury found Attorney Batterman guilty of Operating with a Prohibited Alcohol Concentration, 2nd offense. He was sentenced to 15 days confinement in the Marathon County jail, 13 months driver’s license revocation and, 12 months ignition interlock. Attorney Batterman appealed, and his sentence has been stayed pending appeal.

ANNETTE KINGSLAND ZIEGLER, C.J. (concurring).

I concur in the court’s order revoking Attorney Batterman’s license to practice law in Wisconsin. I write separately to point out that in Wisconsin the “revocation” of an attorney’s law license is not truly revocation because the attorney may petition for reinstatement after a period of five years. See SCR 22.29(2). I believe that when it comes to lawyer discipline, courts should say what they mean and mean what they say. We should not be creating false perceptions to both the public and to the lawyer seeking to practice law again.

…I believe there may be rare and unusual cases that would warrant the permanent revocation of an attorney’s license to practice law. See S. Ct. Order 19-10 (issued Dec. 18, 2019) (Ziegler, J., dissenting).

I am authorized to state that Justices REBECCA GRASSL BRADLEY, BRIAN HAGEDORN, and JILL J. KAROFSKY join this concurrence.

(Mike Frisch)