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Fiduciary Duty Revocable Trusts

Offit Kurman

Choosing a Trustee: Navigating the Complexities and Key Considerations

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In this episode of 'Trust Us,' Danielle Friedman, Max McCauley, and Herb Fineburg discuss the critical aspects of selecting a trustee. They cover common client questions, including who should be named as a trustee, the...more

Gordon Rees Scully Mansukhani

Kositzka v. Fick: Key Lessons on Trustee Fiduciary Duty in Virginia Trusts

In a recent decision, the Court of Appeals of Virginia upheld a lower court’s ruling that Kositzka, Wicks and Company (KWC) breached its fiduciary duty to Edward Joseph Ryan, awarding his estate $999,050 in damages, attorney...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

Saul Ewing LLP

Tips for Trustees: Avoiding Breach of Fiduciary Duty Claims

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For many clients, the inclusion of revocable and/or irrevocable trusts as part of their overall estate plan is an important feature. Revocable trusts can allow for probate avoidance and estate tax planning, whereas...more

Winstead PC

Court Affirmed The Removal Of An Executor For Gross Mismanagement

Winstead PC on

In Gordon v. Gordon, a couple created a revocable trust and named a friend, who provided financial advice, as successor trustee. No. 03-22-00454-CV, 2024 Tex. App. LEXIS 3611 (Tex. App.—Austin May 23, 2024, no pet. history)....more

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

Incorporating into a trust instrument a nonjudicial mechanism for effectuating on an ongoing basis the wishes of the deceased...

There is much to commend in O’Brien, Proposing a Model Antilapse Clause, 48 ACTEC L. J. 257 (2023), particularly its flagging of the doctrinal and practical flaws in Uniform Probate Code §2-707, which would apply the...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2023

Preparing for 2026 - Four ways to build flexibility into your estate plan - January 1, 2026, is a significant date for estate planning. On that day, the federal gift and estate tax exemption amount set by the Tax Cuts...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries: May 2023

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In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following... ...more

Warner Norcross + Judd

When a Non-trustee Helps Administer the Trust

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In re Esther Kratzer Revocable Trust & In re Wendell Kratzer Revocable Trust, Docket Nos 357860, 357861 (Mich Ct App Mar 23 2023) (unpublished). Wendell and Esther Kratzer, husband and wife, had four children including...more

Goulston & Storrs PC

Probate & Fiduciary Litigation Newsletter - February 2023

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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

Downey Brand LLP

Who Can Oversee Revocable Charitable Trusts?

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Narcotics Anonymous established a revocable trust to manage its literature and other intellectual property assets for the benefit of its many members. A “regional delegate group” filed a petition in Los Angeles probate court...more

Rivkin Radler LLP

Wendy and Jen Wreck the Movies – Rain Man (1988)

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Sanford Babbitt, Charlie Babbitt’s estranged father, died. Charlie returns home and finds out he is only receiving a car and prize-winning roses, and that all of his father’s other assets have been left in trust for the...more

Lathrop GPM

Minnesota Court of Appeals Upholds Settlor’s Intent, Rejects Beneficiary’s Petition to Modify Trust and Receive Attorney Fees

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In an opinion released last week, the Minnesota Court of Appeals rejected a petition to modify the terms of a trust to allow for the early distribution of trust assets to the beneficiaries. The court also denied the...more

Winstead PC

Trustee’s Obligation to Inform Beneficiaries: Avoiding Breach of Fiduciary Duty Claims - Presentation

Winstead PC on

David F. Johnson presented “Trustee’s Obligation to Inform Beneficiaries: Avoiding Breach of Fiduciary Duty Claims” to a national audience on November 16, 2021, via Strafford publishing with his co-presenter Scott E. Rahn,...more

McDermott Will & Emery

Illinois Enacts New Trust Code: What Fiduciaries Need to Know

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Effective January 1, 2020, the new Illinois Trust Code (ITC) will replace the Illinois Trusts and Trustees Act, ushering in several changes of note for fiduciaries. In light of the ITC, fiduciaries and estate planners should...more

McDermott Will & Emery

Trustees of Revocable Trusts May Owe Duties to Contingent Beneficiaries

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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

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries August 2019

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In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: Smith...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries January 2018

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In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: - ...more

McGuireWoods LLP

Recent Cases of Interest to Fiduciaries

McGuireWoods LLP on

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: - In re...more

Farrell Fritz, P.C.

On Its Own Motion

Farrell Fritz, P.C. on

While most decisions rendered by the Surrogate’s Court result from an affirmative request for relief, occasionally the court will address an issue on its own motion when justice or the exercise of its inherent or statutory...more

Farrell Fritz, P.C.

Jury Trials in Surrogate’s Court Removal Proceedings

Farrell Fritz, P.C. on

As parties prepare for trial before the Surrogate’s Court, a question that oftentimes arises is whether the parties have a right to a trial by jury. The right to a jury trial is anything but universal in Surrogate’s Court...more

BCLP

When The Power To Amend Doesn’t Actually Mean You Can Amend

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Circumstances, laws, and taxes all change. And, when they do, many settlors don’t want their beneficiaries to have to go into court to get permission to roll with the changes. That’s why you often find a trust provision...more

Proskauer Rose LLP

Wealth Management Update - June 2016

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

Ward and Smith, P.A.

Choosing Wisely – Selecting a Trustee

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Many people use a revocable trust as part of their estate plan because of its probate avoidance and privacy benefits after death. In addition, many people, whether using a will or a revocable trust, want their beneficiary to...more

Goulston & Storrs PC

T&E Litigation Newsletter- 9/3/15

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Massachusetts courts have issued decisions on several topics of interest, including whether a revocable spendthrift trust may properly be included in a marital estate, what happens to assets left to a named beneficiary who...more

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