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Case Citations [1] (July 2020 - April 2021)

handle is hein.ali/relat1023 and id is 1 raw text is: TRUSTS CHAPTER 6. TRANSFER OF THE INTEREST OF THE BENEFICIARY TOPIC 3. RESTRICTIONS ON VOLUNTARY AND INVOLUNTARY TRANSFERS § 156. Where the Settlor is a Beneficiary Mass.2020. Subsec. (2) quot. in case quot. in sup. Judgment creditor in an underlying wrongful-death action sued trustee of self-settled, discretionary spendthrift irrevocable trust, formed by now-deceased judgment debtor, alleging that he was entitled to bring a Massachusetts reach-and-apply action against trust assets. After transfer, the district court entered judgment for plaintiff. The court of appeals certified a question to this court. This court answered in the negative, holding that self-settled, discretionary spendthrift irrevocable trusts governed by Massachusetts law did not protect assets in the trust against reach-and-apply actions by creditors after the settlor's death, because Massachusetts common law forbade settlors from shielding their assets from creditors by placing them in a self-settled trust. The court noted that this rule was derived from Restatement of Trusts § 156, and observed that it was unnecessary to rely on state statutes governing trusts to answer the certified question, because the fact that such statutes also drew from § 156 indicated that the statute was intended to codify rather than replace the common law. De Prins v. Michaeles, 154 N.E.3d 921, 927. CHAPTER 7. THE ADMINISTRATION OF THE TRUST TOPIC 4. REMEDIES OF THE BENEFICIARY AND LIABILITIES OF THE TRUSTEE § 214. Several Beneficiaries Idaho, 2020. Com. (a) quot. in case quot. in sup. Beneficiary of sub-trust filed a petition, seeking financial records for an original trust and sub-trusts that were created by now-deceased grantor who had served as their trustee; successor trustees asserted affirmative defenses, arguing, among other things, that petitioner was not entitled to trust documents originating before grantor's death, because he was not a beneficiary of the trust until grantor died. The magistrate court denied in part and granted in part respondents' motion for summary judgment, and the trial court affirmed in part and reversed in part. This court reversed and remanded, holding that the trial court erred in finding that petitioner had no rights to grantor's estate before her death, because petitioner became a beneficiary to the sub-trust during grantor's life when she exercised her power of appointment to add petitioner as a beneficiary in an executed will. The court explained that the will granted petitioner all the rights possessed by beneficiaries, including the right under Restatement of Trusts § 214, Comment a, to maintain suit against trustee to enforce the fiduciary duty of keeping petitioner informed about the trust. Ferguson v. Ferguson, 473 P.3d 363, 369. COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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