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Case Citations July 2015 through February 2016 [1] (2015-2016)

handle is hein.ali/relat1013 and id is 1 raw text is: TRUSTS CHAPTER 1. DEFINITIONS AND DISTINCTIONS TOPIC 2. DISTINCTIONS § 12. Trust and Debt C.A.4, 2014. Quot. in case quot. in sup. After creditors filed an involuntary Chapter 7 bankruptcy petition against payroll-processing firm, trustee who was appointed to represent debtor's bankruptcy estate brought an adversary proceeding against the United States, seeking to recover payroll-tax payments that debtor had made on behalf of its employer-clients to the Internal Revenue Service (IRS). The bankruptcy court granted summary judgment in favor of the government, finding that debtor lacked an equitable interest in the funds paid over to the IRS, and the district court affirmed. Affirming, this court held, as a matter of law, that debtor's unambiguous agreements with its clients clearly established that the tax funds were intended to be held by debtor only for payment of clients' taxes and therefore constituted trust property. The court pointed out that, under Restatement Third of Trusts § 5 and the original Restatement of Trusts § 12, the manifested intention of the parties determined whether a trust or a debt was created when one person paid money to another. In re FirstPay, Inc., 773 F.3d 583, 591, 592. CHAPTER 7. THE ADMINISTRATION OF THE TRUST TOPIC 1. GENERAL PRINCIPLES § 167. Change of Circumstances Ohio App.2014. Subsec. (1) quot. in sup. Trustees of a revocable trust executed by husband and wife to benefit their children brought a declaratory-judgment action against husband following his conviction in connection with wife's murder, and against children, seeking guidance as to the interpretation and administration of the trust. After conducting hearings, the trial court declined trustees' request that it modify the terms of the trust based on unanticipated circumstances, including wife's murder and the family feud that preceded it, holding that, while Restatement of Trusts § 167 provided that a court of equity, in proper cases, could apply the change of circumstances doctrine to permit a trustee to administer the trust assets in a manner other than that expressed in a trust instrument, wife, although her death by murder was unanticipated, knew that death was inevitable when she executed the trust, the family dispute had gone on for months before wife's death, and there was competent credible evidence to suggest that wife's intent for allocation and distribution of the trust assets had not changed since she executed the trust. Evans v. Evans, 2014-Ohio-4450, 20 N.E.3d 1139, 1173. CHAPTER 9. LIABILITIES OF THIRD PERSONS wA m For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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