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Contract Terms Beneficiaries

Mayer Brown

Advantages of Express LPA Third-Party Beneficiary Provisions for Subscription Credit Facility Lenders

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An express third-party beneficiary provision running in favor of a lender in a fund’s limited partnership agreement (an “LPA”) is helpful for subscription credit facilities. It bolsters the rights and remedies of a...more

Barnea Jaffa Lande & Co.

Rulings On One Sided Changes To Mutual Wills overturned

A new Supreme Court ruling overturns lower courts’ rulings and regulates the application of the “successive heirs” provision of the Succession Law, in instances when a surviving spouse who inherited property by virtue of a...more

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

In the case of a donative transfer in irrevocable inter vivos trust, it is not the trustee who is the donee of the gift

In International Rescue Committee v. Trustee of the Wylie Street Emergency Fund, 537 P.3d 30 (2023), the Supreme Court of Idaho cited Black’s Law Dictionary (11th ed. 2019) as authority for the proposition that “a person can...more

Winstead PC

Texas Supreme Court Holds That The Incorporation Of AAA Rules Can Delegate Scope Issues To The Arbitrator, Which May or May Not...

Winstead PC on

The Texas Supreme Court held that arbitration clauses in trust documents may be enforced regarding claims by beneficiaries against trustees. In Rachal v. Reitz, a beneficiary sued a trustee for failing to provide an...more

Farrell Fritz, P.C.

When Estate Plans and Stock Transfer Restrictions Collide

Farrell Fritz, P.C. on

A recent decision from Bronx County Supreme Court Justice Llinet M. Rosado, Sebrow v Sebrow, 2020 NY Slip Op 20269 [Sup Ct, Bronx County Oct. 9, 2020], is a stark reminder to corporate shareholders, attorneys who plan their...more

Winstead PC

Contractual Jury Waivers in Trust and Estate Litigation in Texas

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Individuals execute trusts and wills to determine how certain assets are to be managed and distributed. Those same individuals may want to have some control over the dispute resolution process for any conflicts that arise in...more

Farrell Fritz, P.C.

Beneficiary To A Trust Lacks Standing To Collect Unpaid Debt

Farrell Fritz, P.C. on

The poet, Robert W. Service once wrote that “a promise made is a debt unpaid.” The question that remains is: Who gets to collect on that unpaid debt?...more

Carlton Fields

Life Insurer Permitted to Adjust Policy Proceeds Pursuant to Misstatement-of-Age Provision

Carlton Fields on

In Jackson National Life Insurance Co. v. Dobbins, the Fifth Circuit Court of Appeals affirmed the district court’s grant of summary judgment for an insurer in an interpleader action, which resolved, among other things,...more

Farrell Fritz, P.C.

Testator Intent and In Terrorem Clauses

Farrell Fritz, P.C. on

My colleagues have written on the enforceability of in terrorem clauses, and the courts continue to confront challenges in reconciling the testator’s intent to impose an in terrorem condition with the rights of beneficiaries...more

White and Williams LLP

Purported Assignment and Power of Attorney Held Invalid in Provider’s Suit to Recover Health Benefits

White and Williams LLP on

On December 4, 2018 United States District Judge Noel L. Hillman dismissed a suit for unpaid medical bills by a healthcare provider against its patient’s ERISA-governed health benefits plan, finding the assignment/power of...more

Downey Brand LLP

California Courts Can Excuse Trustee Who Acts in Good Faith

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A California trustee can be excused from liability for breaches of trust if a judge determines that it would be equitable to do so. We see many situations where a family member trustee strays from the requirements of the...more

Winstead PC

Texas Supreme Court Holds That Testator Devised Property As A Life Estate

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In Knopf v. Gray, the will disposed of the testator’s entire estate, specifically including a tract of land. No. 17-0262, 2018 Tex. LEXIS 249 (Tex. March 23, 2018)....more

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