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In the most recent installment of the McGuireWoods Fiduciary
Advisory Services annual multipart series on recent fiduciary
cases, developments in the law concerning various topics are
examined through the following:
Wortman v. Hutaff (North
Carolina)
Trustees owe fiduciary duties until proper resignation under the
Uniform Trust Code.
Christie v. Kimball
(California)
Court has the authority to compel trust accountings.
Dunmore v. Dunmore
(California)
Trustee has the ability to assign the trust's claims in
exchange for a percentage of any recover on the claims.
Zimmerman v. Patricia E. Zirpolo
Trust (Ohio)
Trustee is required under the UTC to provide trust information to
the minor beneficiaries' parent as their representative where
there is no conflict of interest.
Fellows v. Colburn (New
Hampshire)
Court does not have personal jurisdiction over trustees and
beneficiaries for environmental liability claim over in-state land
held in an out-of-state trust.
In re Pike Family Trusts
(Maine)
UTC reverses the common law presumption that a trust cannot be
terminated over a spendthrift clause.
Snyder v. Snyder
(California)
Trustee may not unilaterally act against votes of majority of
trustees.
Jervis v. Tucker et al.
(Florida)
Post-guardianship trust amendment invalid where capacity not
restored in the manner required by trust terms.
Bellamy v. Langfitt et al.
(Florida)
Court cannot reform a trust to eliminate corporate co-trustee
directly contrary to settlor's intent and trust terms.
In re Estate of Mumma
(Pennsylvania)
Multiple roles as fiduciary and beneficiary are not enough to
justify removal of trustee named by settlor in the absence of a
breach of trust.
In re Estate of Fridenberg
(Pennsylvania)
Pennsylvania Supreme Court upholds modern fiduciary statutes and
eliminates arcane common law restrictions on trustee
compensation.
Downey, et. al. v. Keltz
(Illinois)
The probate exception to federal court jurisdiction does not apply
to an action to compel a trustee to account.
Faville v. Burns
(Illinois)
Appellate court reverses dismissal of claims by adopted children to
be declared trust beneficiaries and to remove trustee for conflict
of interest arising from status as contingent remainderman and
objection to adopted children being recognized as
beneficiaries.
Carter v. Carter
(Illinois)
Court affirms dismissal of surcharge claim against surviving spouse
for investing marital trust assets as trustee in municipal bonds to
increase her own income distributions from trust.
Estate of Boyar v. Dixon
(Illinois)
The doctrine of election applies to a trust and bars claims to
invalidate a trust amendment brought after receiving a
distribution.
Whitman v. Whitman
(Ohio)
Appellate court affirms criminal sentence for custodian and trustee
who defied court order and refused to account.
Damas v. Damas (Ohio)
Beneficiary-trustee did not breach his fiduciary duty by, pursuant
to the trust terms, distributing trust assets to a LLC of which he
was a member.
Cohen v. Cohen, (New
York)
Court rejects standing challenge and allows third party claims in
connection with a lawsuit concerning a family limited partnership
due to public policy against the judicial enforcement of illegal
contracts.
Matter of Deneny v. Rossem
(New York)
Co-trustee removed for refusal to cooperate and failure to manage
trust property that caused harm to the trust.
Matter of Chantarasmi (New
York)
Constructive trust imposed to enforce premarital agreement.
Vinton v. Virzi
(Colorado)
Appellate court rejects amended fraud claim that added
trustee's attorney as a party and forcing the attorney to
withdraw.
Waterfield v. The Trust Company of
Oxford (Indiana)
Appellate court affirms dismissal of summary judgment for trustee
on claims that beneficiary consents to trust reformation were
obtained by fraud where their mother and grandmother presented the
signature pages at a holiday family meeting.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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