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Fiduciary Duty Settlors

Foodman CPAs & Advisors

Fideicomisos Y El CTA

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

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

Trustee’s Duty To Defend Trust Property From Third-Party Claims Versus Trustee’s Duty To Defend Trust’s Very Existence, As Well...

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

Warner Norcross + Judd

When a Non-trustee Helps Administer the Trust

Warner Norcross + Judd on

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Kratzer Revocable Trust & In re Wendell Kratzer Revocable Trust, Docket Nos 357860, 357861 (Mich Ct App Mar 23 2023) (unpublished).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

Downey Brand LLP

Who Can Oversee Revocable Charitable Trusts?

Downey Brand LLP on

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

Lathrop GPM

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

Lathrop GPM on

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

McDermott Will & Emery

Balance of Power: Settlor Reserved Trust Powers Following Webb

McDermott Will & Emery on

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

Winstead PC

Magistrate Suggests Dismissing A Settlor’s Claim Against Trust Protector Because Of A Lack Of Fiduciary Duty

Winstead PC on

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

Winstead PC

Trustee Compensation in Texas - Presentation

Winstead PC on

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

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

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

The Uniform Trust Code’s stealth attack on the Trustee’s time-honored duty to defend his trust

One of the critical duties of a trustee traditionally has been to defend his trust against internal attacks. By that I mean to defend the trust against those who, in contravention of the settlor’s intentions as expressed in...more

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