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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EPTL 11-1.7
Provision in Pre-Nuptial Agreement to Create Trust for Children is Enforceable
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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Fiduciary Beware: Contested Accounting in the Face of Exoneration Clause Results in Liability for Inter Vivos Trustee
In the recent decision of Matter of the Accounting of Tydings, the Bronx County Surrogate’s Court addressed the misconduct of the trustee of a lifetime trust, in view of an exoneration clause contained in the instrument. Ilene Cooper discusses the case in our latest entry.
Continue Reading Fiduciary Beware: Contested Accounting in the Face of Exoneration Clause Results in Liability for Inter Vivos Trustee