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Estate Planning Uniform Trust Code Fiduciary Duty

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Winstead PC

Court Rules On Personal Jurisdiction In A Trust Dispute, Holding That In Rem Jurisdiction Still Requires Personal Contacts With A...

Winstead PC on

In Hooten v. Collins, a dispute arose between the trustee of a Texas trust and a beneficiary who resided overseas regarding the distribution of trust assets, which primarily consisted of real estate in Texas. No....more

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

To Lawyers Who Refer Clients to Estate-Planning Attorneys Who Act as Professional Trustees: Beware the Uniform Trust Code’s...

Consider the lawyer who lacks a working familiarity with trusts, and with estate planning generally. He prudently and ethically refers a client in need of an estate plan to a well-respected lawyer who also happens also to be...more

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

Parsing the Uniform Trust Code in Isolation Without Regard to the Uniform Probate Code and the Uniform Powers of Appointment Act...

Intro. The Uniform Trust Code (UTC) is a mere aggregation of tweaks to the corner of equity jurisprudence that long ago gave birth to and currently stewards the trust relationship, hereinafter “the background trust law.”...more

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

When Hostilities Break Out Between Co-trustees, Where Does That Leave Trust Counsel?

When hostilities break out between individual co-trustees, incumbent trust counsel faces a representation conundrum. In §8.8 of Loring and Rounds: A Trustee’s Handbook (2025), see appendix below, we grapple with the...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

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

When virtual representation is not an option in trust-reformation litigation

In an external contract-based or tort-based dispute between the trustee and a third party to the trust relationship, the beneficiaries are generally not necessary parties. But all beneficiaries (of an irrev. trust) whose...more

Goulston & Storrs PC

Probate & Fiduciary Litigation Newsletter - February 2023

Goulston & Storrs PC on

Trust v. Code: What Trumps? Matter of the Leo Kahn Revocable Trust, 102 Mass. App. Ct. 38 (2022) - If the terms of a trust instrument are inconsistent with a provision of the Massachusetts Uniform Trust Code (“MUTC” or...more

Proskauer Rose LLP

Wealth Management Update - September 2019

Proskauer Rose LLP on

September 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split-Interest Charitable Trusts - The September Section 7520 rate for use with estate planning techniques such as CRTs,...more

McDermott Will & Emery

Trustees of Revocable Trusts May Owe Duties to Contingent Beneficiaries

McDermott Will & Emery on

Revocable trusts are a ubiquitous part of modern US estate planning because they avoid the delay, cost and publicity inherent in probate administration and, in the international context, because of the certainty they provide...more

Bryan Cave Leighton Paisner

Filing Trust Modification As Public Record Started Statute Of Limitations

Fiduciaries should always be thinking of ways to get the statute of limitations started. Why have a claim hanging over your head for many years, when you can take actions that shorten the time in which a claim may be brought...more

McGuireWoods LLP

North Carolina Changes Trust Code and Permits “Living Probate”

McGuireWoods LLP on

On August 11th, Governor McCrory signed North Carolina Senate Bill 336, Act to Amend the Law Governing Estate Planning and Fiduciaries (the “Act”). Notably, the Act adopts a procedure for living probate in North Carolina and...more

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