In late-August 2018, Governor Cuomo signed into law amendments to EPTL § 11-1.7 regarding exoneration clauses in lifetime trusts, drafted by Rob Harper and Ilene S. Cooper as members of the New York State Bar Association’s Trusts and Estates Law Section. Rob Harper discusses the amendments in our latest blog post.
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Trusts
“Can I sue them for legal fees?”
By Frank Santoro on
This is a common question from clients involved in litigation – – especially estate litigation. As a general rule, a party cannot recover attorney’s fees for successfully prosecuting or defending a lawsuit. This is the “American Rule,” and it is engrained in our legal system. New York courts are wary of deviating from the American…
A Real-Life Final Exam Fact Pattern: That Pesky Per Stirpes Statute
By Spencer Reames on
Posted in Construction of Wills and Trusts, Trusts
As the year draws to a close, I sometimes recall the stresses of final exam season from my law school days. In the spirit of reminiscence, I’ll pose a quick final-exam-like fact pattern:
Jane owned a parcel of real property in New Hyde Park, title to which she transferred in June 2002 to her irrevocable
…
Dishonesty and Improvidence as Grounds for Disqualification of a Fiduciary
By Frank Santoro on
A recent decision of the Richmond County Surrogate’s Court addressed a frequently litigated issue in Surrogate’s Court litigation – – whether the proposed or nominated fiduciary should be disqualified from serving in a fiduciary capacity on the grounds of “dishonesty” or “improvidence.” In the Estate of George Mathai a familiar dynamic was in play –…
Reformation Proceeding – Brigati Irrevocable Insurance Trust
By John (Jack) Barnosky on
Posted in Trusts
In Matter of Brigati, Surrogate Czygier of Suffolk County addressed an application to reform the decedent’s life insurance trust, which contained a significant amount of insurance. The instrument contained a number of terms which could cause inclusion in the decedent’s gross estate. Among other things, it provided that upon the death of the Grantor, the life insurance …
Provision in Pre-Nuptial Agreement to Create Trust for Children is Enforceable
By John (Jack) Barnosky on
Posted in Trusts
In a recent Westchester County decision, the court enforced the terms of a prenuptial agreement providing that the decedent was to leave trusts for the benefit of his children despite some unusual circumstances. Jack Barnosky discusses the case in our latest entry.…
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Surrogate: Dog Groups Barking Up The Wrong Tree
By Eric Penzer on
Posted in Trusts
Readers may recall Eric Penzer’s previous entries regarding Leona Helmsley’s charitable trust in which she expressed a desire that its millions of dollars be used for the care and welfare of dogs. This week he addresses the New York County Surrogate’s Court’s latest decision on the issue, after animal welfare charities sought to intervene in the proceeding and vacate a prior determination that the trust assets could be distributed to any charities as the executors saw fit.…
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Lessons of Constructive Trusts Continued
By Ilene Cooper on
Posted in Trusts
As explained by Jaclene D’Agostino in our previous entry, constructive trusts may be imposed in a variety of circumstances. However, there are numerous situations in which courts have rejected the imposition of that remedy. One such example is the case of Dext v. Rorech III, Individually and as Executor of the Estate of William Rorech, Jr., recently emanating from Suffolk County Surrogate’s Court. Ilene Cooper discusses the case in this week’s entry.…
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What is a Constructive Trust?
By Jaclene D'Agostino on
Posted in Trusts
Often misunderstood or confused with an express trust, a constructive trust is an equitable remedy applicable in a variety of circumstances. Jaclene D’Agostino discusses the doctrine in our most recent entry.…
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Action Dismissed For Failure to Join Beneficiaries
By Jaclene D'Agostino on
Posted in Trusts
The Second Department recently addressed a trust rescission action in which the plaintiff failed to join certain remainder and charitable beneficiaries as parties. Jaclene D’Agostino explains the Court’s holding in this week’s blog entry.…
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