Charles E. Rounds, Jr.
Suffolk University Law School

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120 Tremont St.
Boston, MA 02108-4977, United States
Phone: 617-573-8185
Areas of Practice
  • Business Organizations
  • Civil Rights
  • Education
  • Finance & Banking
  • Intellectual Property
  • Litigation
  • Professional Malpractice
  • Securities Law
  • Wills, Trusts, & Estate Planning

Does a removed trustee have a duty to see to it that the fiduciary reins are assumed by a qualified successor?

A removed trustee retains myriad residual fiduciary duties and liabilities. The most obvious is the duty not to betray the confidences of the entrustment going forward. Less self-evident is the removed trustee’s residual duty…more
 /  Civil Remedies, Family Law, Finance & Banking, Professional Malpractice, Wills, Trusts, & Estate Planning

Trust Protectors, Trust Directors, and the Uniform Directed Trust Act

The Uniform Directed Trust Act (the “Act”), approved July 19, 2017 by the National Conference of Commissioners on Uniform State Laws, purports to govern irrevocable directed trusts. For purposes of the Act a directed trust is a…more
 /  Civil Procedure, Civil Remedies, Finance & Banking, Family Law, Wills, Trusts, & Estate Planning

May a vindicated trustee be reimbursed personally from the trust estate even for those defense costs that were covered by his liability-insurance carrier?

As to whether the vindicated trustee’s claim against the trust estate for defense counsel’s fees should be offset by payments made to defense counsel by the trustee’s personal liability insurance carrier, at least one court has…more
 /  Civil Remedies, Commercial Law & Contracts, Family Law, Insurance, Wills, Trusts, & Estate Planning

Litigating trust matters in the federal courts (U.S.): A jurisdiction primer

The diversity jurisdiction of the federal courts generally does not extend to state probate matters. However, this so-called “probate exception to federal diversity jurisdiction” does not apply to trust disputes. See generally…more
 /  Business Organizations, Civil Procedure, Conflict of Laws, Constitutional Law, Wills, Trusts, & Estate Planning

Allowing in parol evidence as to a trust-settlor's intent: Construing trust terms versus reforming them

In the Missouri case of Mense v. Rennick, 491 S.W.3d 661 (Mo. App. 2016), the testimony of the settlor-beneficiary of an irrevocable trust as to what she had intended was not allowed in, the court having determined that the…more
 /  Civil Procedure, Civil Remedies, Family Law, Professional Malpractice, Wills, Trusts, & Estate Planning

Residual liability in the trust context of excluded fiduciaries

Some states by statute have introduced into their trust jurisprudence the concept of the excluded fiduciary: In the case of a trust the terms of which allocate fiduciary functions between the trustee and, say, a trust protector,…more
 /  Business Organizations, Civil Remedies, Finance & Banking, Professional Malpractice, Wills, Trusts, & Estate Planning
Ferri v. Powell-Ferri

Ferri v. Powell-Ferri: A trust decanting decision that is less than meets the eye

The Supreme Court of Connecticut (SCC) certified three trust-decanting questions of law to the Supreme Judicial Court of Massachusetts (SJC) incident to a divorce proceeding. On March 20, 2017, the SJC rendered its answers to…more
 /  Civil Procedure, Civil Remedies, Conflict of Laws, Family Law, Wills, Trusts, & Estate Planning

Would equity deem an enforceable irrevocable power of attorney (IPA) to be a trust rather than an agency?

At law and in equity the classic agency is terminable at the will of either the principal or the agent, and in any event upon the death or mental incapacity of either. The durable power of attorney is one statutory partial…more
 /  Business Organizations, Commercial Law & Contracts, Finance & Banking, Securities Law, Wills, Trusts, & Estate Planning

Protections afforded to Massachusetts' ancient burial grounds

See Charles E. Rounds, Jr., Protections Afforded to Massachusetts’ Ancient Burial Grounds, 73 Massachusetts Law Review176 (1988). Here is an external link to the article:…more
 /  Administrative Law, Business Organizations, Civil Remedies, Environmental Law, Nonprofit Law

Can it be that in Nevada a trustee by statute may now decant an income-only trust into a trust whose trustee has current principal-invasion authority?

Even in the absence of statutory authority a trustee with equitable discretionary authority to make principal distributions to or for the benefit of the beneficiary has long had equitable authority to distribute some or all of…more
 /  Conflict of Laws, Constitutional Law, Family Law, Taxation, Wills, Trusts, & Estate Planning

The Uniform Trust Decanting Act's conflicting commentary

The texts of the myriad trust-related uniform statutes could be better coordinated and synchronized. So also could the official commentaries that accompany the myriad sections of the individual uniform statute. Take, for…more
 /  Civil Procedure, Family Law, Insurance, Nonprofit Law, Wills, Trusts, & Estate Planning

The public policy case against retroactively applying new trust law

The Supreme Court of Bermuda by statute amendment (Dec. 11, 2015) has been granted a power to declare that the rule against perpetuities shall not apply to a trust instrument executed before the amendment’s effective date,…more
 /  Civil Remedies, Civil Rights, Constitutional Law, Family Law, Wills, Trusts, & Estate Planning

A controversy is brewing over whether a Hungarian trust is a true trust, or just a type of contract

A controversy is brewing over whether a Hungarian trust is a true trust, or just a type of contract. Istvan Illés and Charles E. Rounds, Jr. conclude that it is not and explain the rationale for their conclusion in a law review…more
 /  Business Organizations, Commercial Law & Contracts, Finance & Banking, International Law & Trade, Wills, Trusts, & Estate Planning

Has the non-commercial trust relationship for the most part managed to avoid the cross hairs of the Financial Crimes Enforcement Network (FinCEN)?

FinCEN issued (05/11/2016) final rules under the Bank Secrecy Act “to clarify and strengthen customer due diligence requirements” for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and…more
 /  Administrative Law, Criminal Law, Finance & Banking, Securities Law, Wills, Trusts, & Estate Planning

May the donee of a limited testamentary power of appointment irrevocably and immediately exercise it inter vivos by contract?

The Delaware Chancery Court [In re Estate of Tigani, C.A No. 7339-ML (Del. Ch. Ct. Feb. 12, 2016)] has confirmed that the donee of a limited testamentary power of appointment may not irrevocably, immediately, and effectively…more
 /  Civil Procedure, Civil Remedies, Family Law, Taxation, Wills, Trusts, & Estate Planning
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