A court should not enforce a trust in terrorem clause if its enforcement under the particular facts and circumstances would frustrate settlor intent. Assuming that the settlor intended to impress a trust upon the property,...more
Some administered charitable gifts may qualify as “charitable trusts” under the Uniform Trust Code (UTC) and as “institutional funds” under the Uniform Prudent Management of Institutional Funds Act (UPMIFA). An “institutional...more
While a silent trust could solve issues for some settlors, this trust arrangement comes with some complexities that must be considered. Additionally, even with the best-laid plans, there is the potential for an inadvertent...more
El 18 de abril de 2024, FinCEN actualizó las preguntas frecuentes (“FAQs) que abordan los fideicomisos y el CTA (“Corporate Transparency Act”). Los fideicomisos son vehículos que pueden ayudar a preservar patrimonios y la...more
A longstanding and critical incident of a trustee’s fiduciary duty of loyalty is the duty to vigorously defend the trust’s very existence, as well as all its material provisions (hereinafter “existence defense”), unless it...more
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Kratzer Revocable Trust & In re Wendell Kratzer Revocable Trust, Docket Nos 357860, 357861 (Mich Ct App Mar 23 2023) (unpublished).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
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
In 2017, the English High Court decision of Mezhprom v Pugachev caused ripples in the trusts world as to the extent to which a settlor of a trust can reserve powers for the trust to be considered valid. Several commentators...more
In Ron v. Ron, a wife created a trust with her husband as a trustee, a friend as a trust protector, and their children as the beneficiaries. No. 3:19-CV-00211, 2020 U.S. Dist. LEXIS 52507 (S.D. Tex. February 4, 2020)....more
Areas of Discussion: - In this Presentation, we will discuss the following: - Duty of loyalty; - Authority for trustee compensation; - Factors for reasonable compensation; - Other issues arising from trustee...more