News & Analysis as of

Trusts Third-Party

Tucker Arensberg, P.C.

Pennsylvania Adopts Directed Trust Act, Modernizing Trust Administration and Enhancing Trustee Selection

In July 2024, Pennsylvania Governor Josh Shapiro signed the Pennsylvania Directed Trust Act, Senate Bill 1231 (now part of Act No. 64 of 2024, sponsored by Senator Lisa Baker), into law, making Pennsylvania the 20th state to...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

Chambliss, Bahner & Stophel, P.C.

Securing the Future: The Advantages of Supplemental Needs Trust Planning for High Net Worth Families

In the world of estate planning, high net worth individuals and families increasingly recognize the importance of advanced planning, including the use of supplemental needs trusts (SNTs), as a powerful tool for ensuring the...more

Lathrop GPM

South Dakota Supreme Court Limits Ability of Trust Beneficiaries to Sue on Behalf of Trust

Lathrop GPM on

In a recent opinion, the South Dakota Supreme Court held that trust beneficiaries lacked standing to bring claims against a third party on behalf of the trust. In so holding, the court explained that trustees typically are...more

Latham & Watkins LLP

Recent case law update: Treatment of Trust Assets — Akers (and others) v. Samba Financial Group (2017)

Latham & Watkins LLP on

The English Supreme Court has delivered a ruling that provides helpful guidance on the enforceability of trusts in respect of assets located in foreign jurisdictions that do not recognise trusts. The ruling also highlights...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Rejects Third-Party Claim as Derivative in Trusts’ Suit Concerning Upper West Side Beaux-Arts Building

Asserting a claim on behalf of a trust in the Commercial Division can be risky, as the party asserting the claim must establish that the claimed injury is independent of any injury to the trust, and that they are therefore...more

Winstead PC

Texas Supreme Court Hears Oral Argument on Legal Malpractice Case Involving Standing of Beneficiary of Trust

Winstead PC on

On February 10, 2016, the Texas Supreme Court heard argument in a case that involves the issue of legal standing to sue when a trust is injured by the actions of a third party. In DLA Piper US, LLP v. Linegar, Chris Linegar...more

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