scenario: Under a 1974 will, your uncle
created a testamentary trust directing payments to you of $1200 annually during
your lifetime. When the will was
admitted to probate in 1975, this may have seemed a nice supplement and even a
At this time, there is no New York
statute authorizing "directed trusts" wherein a settlor directs that the
trustee shall act in a certain manner.
Directed trusts or "trust protectors" are increasingly being utilized by
New York has a very
well developed common law in the trust area, however its lack of accessibility
to practitioners and trustees has lead to recent discussions concerning whether
New York should adopt a uniform trust code.
For several years, various...
In a significant decision this
summer, Schneider v. Finmann , 15 N.Y.3d 306, 907 N.Y.S.2d 119, 933
N.E.2d 718 (2010) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ],
the New York Court...
A special fiduciary relationship exists between spouses -
even divorced spouses. Accordingly,
courts treat their agreements, including separation agreements, differently from
ordinary contracts and require the utmost good faith in their dealings with...
Litigation is often lengthy and can take years to
resolve. During this long process, lives
change and people grow older. So, what
should an attorney do if they learn (or suspect) while a litigation is pending
that their client has become afflicted...