News & Analysis as of

Beneficiaries Liability

Segal McCambridge

New York’s Grieving Families Act Advances (Again)

Segal McCambridge on

On June 10, 2025, the New York State Grieving Families Act got a (fourth) chance to be signed by Governor Hochul. She refused to sign prior iterations of the legislation, citing stress on New York’s business community and the...more

Charles E. Rounds, Jr. - Suffolk University...

Liability of Trust Beneficiary Who Litigates Vexatiously or Participates in a Breach of Trust

The Restatement (Third) of Trusts, specifically §104, lists four general areas in which the beneficiary’s actions may lead to an assumption of internal liability to the trust estate: (1) A loan or advance to the beneficiary...more

Allen Barron, Inc.

A Trustee or Executor has Substantial Financial and Legal Liability

Allen Barron, Inc. on

Have you been asked to be a trustee or executor? A trustee or executor has substantial financial and legal liability, and the trust or estate will pay an attorney to guide them through the process....more

Fox Rothschild LLP

How Pennsylvania's New Directed Trust Act Will Affect Corporate Trustees

Fox Rothschild LLP on

Now that Pennsylvania recognizes directed trusts, corporate fiduciaries should be aware that sharing trust responsibilities could create both legal liability and administrative burdens. The law, which went into effect late...more

Charles E. Rounds, Jr. - Suffolk University...

May a Mentally Incapacitated Trustee Be Held Personally Liable for His Breaches of Trust?

Assume sole trustee of an irrevocable discretionary trust for benefit of deceased settlor’s descendants living from time to time suffers a sudden unforeseen mental disability that causes trustee to imprudently administer the...more

Jaburg Wilk

Protect Your Assets: The Importance of Adequate Insurance in Estate Planning

Jaburg Wilk on

When it comes to estate planning, ensuring your assets are well-protected should be a top priority. Insurance is a crucial component that many overlook, but it can be the key to securing your legacy. Here’s why sufficient...more

Charles E. Rounds, Jr. - Suffolk University...

Individual Trustee Delegates to Financial Institution the Job of Taking Custody and Keeping Track of Income and Principal: The...

While PC software programs are a practical improvement over the trustee’s hard-copy ledger book, when it comes to keeping track of trust income and principal these programs still require serious clerical monitoring on the...more

Charles E. Rounds, Jr. - Suffolk University...

Due to scrivener negligence, the dispositive provisions of a trust fail to reflect the deceased settlor’s wishes: Can it be that...

Assume the deceased settlor of a trust had intended that his niece be included in the beneficiary class, but his estate-planning attorney had negligently made no provision for her in the governing instrument. After settlor’s...more

Proskauer Rose LLP

UK Tax Round Up - December 2024

Proskauer Rose LLP on

Welcome to the December 2024 edition of our UK Tax Round Up. This month has seen interesting decisions on the basis for rescission of an arrangement with adverse tax consequences, the treatment of a loan from an EBT, the tax...more

Allen Barron, Inc.

Do You Need an Asset Protection Strategy?

Allen Barron, Inc. on

Do you need an asset protection strategy in San Diego, California? What is an “Asset Protection Strategy” and who should make sure to have an asset protection strategy in place?...more

Lippes Mathias LLP

Hiring Counsel for Estate and Trust Administration Could Help You Avoid an Expensive Conflict

Lippes Mathias LLP on

Losing a family member or friend is a difficult situation for everyone. In 1969, the Swiss-American psychiatrist Elizabeth Kübler-Ross wrote in her book “On Death and Dying,” that grief could be divided into five stages:...more

Winstead PC

[Webinar] Fiduciary Litigation Update: 2019-2020 - December 15th, 10:00 am - 11:15 am CT

Winstead PC on

This presentation will cover Texas cases dealing with fiduciary issues over the survey period. Some of the issues involve the removal of a trustee, the resignation of a trustee, the production of confidential trust...more

McDermott Will & Schulte

[Webinar] ESOP Focus: Deliberate Decision-Making | Dynamic Distribution Strategies - April 30th, 2:00 pm - 3:00 pm ET

The decisions you make in response to the global pandemic will have lasting impacts on your business and your workforce. Join members of our ESOP team each Thursday for this webinar series designed to help you navigate and...more

Winstead PC

Presentation - Texas Fiduciary Litigation Update: 2018-2019

Winstead PC on

David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, discusses Texas fiduciary litigation case law and addresses issues such as merger of trusts, Gun Trusts, statute of limitations, quasi-estoppel,...more

Goulston & Storrs PC

Probate & Fiduciary Litigation Newsletter – October 2019

Goulston & Storrs PC on

The Probate & Fiduciary Litigation Newsletter compiles recent Trust & Estate cases. Our lawyers are at the forefront of this area of the law, shaping how it is handled in the Probate and Family Court. ...more

Downey Brand LLP

California Courts Can Excuse Trustee Who Acts in Good Faith

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A California trustee can be excused from liability for breaches of trust if a judge determines that it would be equitable to do so. We see many situations where a family member trustee strays from the requirements of the...more

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