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Case Citations 1 (Spring 2024)

handle is hein.ali/resect1487 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Spring 2024 Citations TRUSTS 2D Generally E.D.Pa.2022. Cit. in ftn. Participant in an employee welfare-benefit plan that was discovered to have been operated as part of a fraudulent scheme sued insurer that issued a life-insurance policy to participant through the plan, alleging that insurer was liable under the Employee Retirement Income Security Act (ERISA) for changing the policy owner and issuing a loan on the policy to the new owner. This court denied the parties' competing motions for summary judgment, holding that there were genuine issues of material fact as to whether a document requesting the change of owner-which listed a perpetrator of the scheme as an authorized signatory of the trust that managed the policy-was directed at insurer, such that insurer was justified in understanding that the perpetrator had authority to make that change. The court declined to consider plaintiff s argument that the trust's authorization of the perpetrator was invalid as a matter of law under the Restatement Second of Trusts, which forbade that kind of delegation of authority, reasoning that plaintiffs failed to properly present that argument. Hausknecht v. John Hancock Life Insurance Company of New York, 614 F.Supp.3d 168, 184. Minn.App.2023. Cit. generally in case cit. in ftn. Minnesota Attorney General's Office filed a petition to remove trustees of a charitable trust, alleging that trustees breached their fiduciary duties by, among other things, abusing their grantmaking power. After a bench trial, the trial court granted the Attorney General's petition to remove one trustee, finding that that trustee abused his grantmaking power by engaging in hostile and abusive interactions with the CEO of a longtime beneficiary of the trust, which led to the beneficiary returning its grant funds and severing its relationship with the trust. Affirming, this court, relying in part on the Restatement Second of Trusts, held that the trial court did not abuse its discretion when it found that the trustee's abuse of grantmaking power violated the duty of loyalty and constituted a breach of trust that warranted removal. The court noted that Minnesota courts had treated the Restatement Second of Trusts as authoritative in the absence of Minnesota authority on point. Matter of Otto Bremer Trust, 984 N.W.2d 888, 900. CHAPTER 1. DEFINITIONS AND DISTINCTIONS COPYRIGHT (2024 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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