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Category: Fiduciary Issues (page 1 of 7)

What is Reasonable? Determining Fiduciary Fees in Massachusetts

By Amy R. Lonergan and Joshua S. Miller

For an attorney in Massachusetts, serving as a personal representative or trustee (“fiduciary”) for a trust or estate can be a rewarding and fulfilling role. However, there are numerous pitfalls for an attorney when setting and collecting his or her fees for … Continue reading

McGuire Woods Fiduciary Cases – July 2015

McGuire Woods has made available for download its July 2015 white paper summarizing several recent fiduciary court cases.  The Abstract of cases summarized is as follows:

 

  • In re Estate of House, 2014 Wash. App. LEXIS 3006 (Wash. Ct. App. 2014). A release waiving any and all claims that the parties
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Can Trust Protector Amend Procedure For Removing Himself? 

Luke Lantta, of Bryan Cave, looks at McDevitt v. Wellin, which looks at whether a trust protector may amend the procedure for removing the trust protector.  His summary begins as follows:

We have looked at a number of chapters of the Wellin trust disputes in South Carolina and how they are shaping

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Trust Reformation Was Not A Remedy For Failing To Complete An Estate Plan

Luke Lantta, of Bryan Cave, writes about the Appeals Court of Massachusetts’ decision in Lesanto v. Lesanto (Rule 1:28 decision), which reminds us that certain requirements must be met to reform a trust, contrasting the Lesanto case with several recent cases in which Massachusetts courts have permitted trust modification.

See full article at: Trust Reformation Was Not Continue reading

Trustees Beware: Which Fiduciary Standard Applies to Your “Business Judgments”?

Michael Grill, of Holland & Knight LLP, writes about what legal standard a trustee must adhere to when he or she also participates in the control of a family or closely held business.  He notes that courts continue to grapple with this question and then notes that the high courts in … Continue reading

Decanting Gone Bad: Harrell v. Badger

Jenna G. Rubin writes about Harrell v. Badger, where the Fifth District Court of Appeal of the State of Florida invalidated a trust decanting.  The end of Ms. Rubin’s blog post, dealing with the decanting issue, is as follows:

The Appellate Court reversed, holding that pursuant to F.S. 736.04117,

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An Economist’s Perspective of Fiduciary Monitoring of Investments by Susan Mangiero

Susan Mangiero, of Fiduciary Leadership, LLC, has made available for download her article, “An Economist’s Perspective of Fiduciary Monitoring of Investments,” published in BNA Bloomberg Pension & Benefits Daily, May 2015.  The Abstract is as follows:

A central thesis of “An Economist’s Perspective of Fiduciary Monitoring of Investments” by Dr.

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Sherlock Holmes and the Problem of the Dead Hand: The Modification and Termination of ‘Irrevocable’ Trusts by Richard C. Ausness

Richard C. Ausness University of Kentucky – College of Law, has made available for download his article, “Sherlock Holmes and the Problem of the Dead Hand: The Modification and Termination of ‘Irrevocable’ Trusts,” published in the Quinnipiac Probate Law Journal, Vol. 28, No. 3, 2015. The Abstract is as follows:… Continue reading

Trust Decanting: A Sale Without Gain Realization by Jason Kleinman

Jason Kleinman, Herrick, Feinstein LLP, has made available for download his article, “Trust Decanting: A Sale Without Gain Realization,” which was published in the Real Property, Probate and Trust Law Journal, Vol. 49, Winter 2015.  The Abstract is as follows:

This Article describes why decanting or modifying a trust cannot

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California court invalidates power of appointment; disinherited heir gets 1/3 of $55M trust

Juan C. Antunez, writes about Sefton v. Sefton, — Cal.Rptr.3d —-, 2015 WL 1870302 (Cal.App. 4 Dist. April 24, 2015), where a California court invalidated a power of appointment, resulting in the decedent’s disinherited heir receiving a 1/3 interest in a $55 million trust.  Mr. Antunez’s article begins as follows:… Continue reading

Does A Trustee’s Lawyer Owe A Fiduciary Duty To The Trust Beneficiaries?

Luke Lantta, on the Bryan Cave Fiduciary Litigation Blog writes about whether a trustee’s lawyer owes a fiduciary duty to trust beneficiaries, focusing on Walther v. Kane, an unpublished Eleventh Circuit Case.  His post begins as follows:

There is seemingly a line – at least under Florida law – that will

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Minimizing Probate-Error Risk by Mark Glover

Mark Glover has made available for download his forthcoming article, “Minimizing Probate-Error Risk,” to be published in the University of Michigan Journal of Law Reform. The Abstract reads as follow:

By prescribing the method by which courts evaluate the authenticity of wills, the law of will-execution allocates probate-error risk between

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Applying The Doctrine Of Dependent Relative Revocation

Luke Lantta, in the Bryan Cave Fiduciary Litigation Blog writes about Applying The Doctrine Of Dependent Relative Revocation, focusing on  Mosley v. Lancaster, a Georgia Supreme Court case.  His article begins as follows:

The name of the doctrine itself is something that could only be loved by trusts and estates lawyers: dependent relative

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Florida Family Trust Companies: Tax and Nontax Considerations by Brian M. Malec and Scott A. Bowman

Brian M. Malec and Scott A. Bowman have published their article, “Florida Family Trust Companies: Tax and Nontax Considerations,” in the Florida Bar Journal.  The article discusses newly enacted legislation in Florida designed to attract private family trust companies.  The article begins as follows:

On June 13, 2014, Governor Scott

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The Prudent Investor Rule and Market Risk: An Empirical Analysis by Max M. Schanzenbach, Robert H. Sitkoff

Professors Max M. Schanzenbach and Robert H. Sitkoff have made available their research paper, “The Prudent Investor Rule and Market Risk: An Empirical Analysis.”  The Abstract is as follows:

The prudent investor rule, enacted in every state over the last 30 years, is the centerpiece of fiduciary investment law. Repudiating the

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