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Fiduciary Duty Trustees Investment

Offit Kurman

When a Corporate Trustee May Be a Disadvantage for Your Trust

Offit Kurman on

Last month I explored the potential advantages of naming a corporate trustee, acknowledging that the decision is ultimately a matter of personal preference. In this second part of a two-part, “point-counterpoint”...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

Proskauer - Employee Benefits & Executive...

Eleventh Circuit Confirms Foreign Tax Credits Owned by Insurance Company Not “Plan Assets” of 401(k) Plan Under ERISA

In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result...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

Warner Norcross + Judd

Hot Topics for Private Clients and Family Offices from the 2024 Heckerling Institute on Estate Planning – Part Two

Warner Norcross + Judd on

In our previous blog post on the 2024 Heckerling Institute on Estate Planning, we highlighted some of the concepts and cases related to valuation that were discussed at the conference. In this second post, we share some of...more

Chambliss, Bahner & Stophel, P.C.

Responsibilities of a Special Needs Trust Trustee

For individuals with disabilities, an inheritance or settlement can jeopardize a their government benefits, such as Medicaid and Supplemental Security Income (SSI). A special needs trust (SNT) can help the individual remain...more

Walkers

Issues and Strategies: Trustees, Digital Assets and Fiduciary Duties

Walkers on

Notwithstanding the turbulent past few months, which have seen roughly $2 trillion worth of value disappear from the digital asset ecosystem, we are still seeing an increase in enquiries by high net worth individuals...more

Holland & Hart LLP

Prudently Investing: What Trustees Need to Know

Holland & Hart LLP on

Acting in the best interests of the trust and the trust beneficiaries, a trustee has the duty to protect and preserve trust assets and, generally, to make the assets productive. In making investment decisions and managing...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

$300,000 401(k) Plan Sued* (Note Asterisk)

A Florida optometry practice with a 401(k) plan with only $300,000 in assets is the latest plan to be sued for 401(k) mismanagement, with a newly filed lawsuit accusing the practice of over-investing in alleged “patent troll”...more

K&L Gates LLP

Pension Plan Investments: ERISA Fiduciaries May Consider Environmental, Social, and Governance Factors Related to Economic Value

K&L Gates LLP on

Over the past two decades, the U.S. Department of Labor (DOL) has issued a number of advisory opinions and interpretive bulletins on “economically targeted investments” (ETIs). These investments are generally defined as...more

Carlton Fields

Navigating Derivative Lawsuits Against Mutual Funds After Northstar

Carlton Fields on

The Ninth Circuit Court of Appeals this spring held that mutual fund shareholders could maintain direct claims against the fund’s trustees for breach of their common law fiduciary duties. Before Northstar v. Schwab, such...more

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