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

The American Rule provides that each party to a litigation generally remains responsible for his own legal expenses regardless of who prevails. In Matter of Lasdon, Surrogate Glen of New York County explained the few and narrow exceptions to that Rule, one of which pertains to cases of fiduciary misconduct. Jaclene D’Agostino discusses the decision in our latest entry.
Continue Reading Exception to the American Rule: Shifting Objectants’ Legal Fees to the Surcharged Fiduciary

The Court of Appeals has issued a decision that changes the way in which a fiduciary’s legal fees incurred in defending objections will be paid from a trust or estate. In Matter of Hyde, the Court reversed its prior interpretation of SCPA 2110 and established new guidelines. Jaclene D’Agostino discusses the decision in this week’s entry.
Continue Reading Court of Appeals: Fiduciary’s Legal Fees to be Equitably Allocated among Beneficiaries

Legal fees incurred by fiduciaries in connection wtih their stewardship are generally chargeable to a trust or estate as a whole. This week’s blog entry discusses a recent case in which non-objecting beneficiaries sought to allocate trustees’ litigation costs solely to the objecting parties’ interests.
Continue Reading Beneficiary Participation Irrelevant to Allocation of Trustees’ Litigation Costs