Recent Cases Of Interest To Fiduciaries - May 2012

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...

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