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Case Citations [1] (April 2023 - August 2023)

handle is hein.ali/rettgp2435 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Spring 2023 Citations TRUSTS 3D Generally Conn.App.2022. Cit. generally in ftn. In a dispute over control of a closely-held family business, mother and son sued two other sons, seeking a declaration that daughter's proxy agreement giving defendants control over her shares in the business was invalid because she had previously transferred the shares to an irrevocable trust over concerns that her soon-to-be ex-husband might interfere with the business. After a bench trial, the trial court found that daughter revoked the trust soon after creating it and that she owned the shares when she issued the proxy to defendants. Affirming, this court held that the trial court correctly concluded that daughter had omitted the power to revoke the trust by mistake under Restatement Second of Trusts § 332. The court noted that, although the relevant section of the Restatement Third of Trusts was published before daughter created the trust, the parties and the trial court relied on the Restatement Second of Trusts. Levco Tech, Inc. v. Kelly, 279 A.3d 248, 263. Neb.2022. Cit. generally in cases in disc. Beneficiaries of irrevocable family trust sued co-beneficiaries of trust, alleging that trustee, who suffered from dementia and lived in defendants' care, was barred from receiving communications from plaintiffs and performing trust duties, and defendants misappropriated trust assets. The trial court entered a default judgment against defendants and denied defendants' motion for a new trial. This court reversed and remanded, holding that further findings of fact were necessary to determine whether defendants breached the trust. In establishing a framework through which defendants could be liable for breach of trust, the court noted that it looked to the Restatement Third of Trusts in interpreting trust statutes. In re Charles and Patricia Masek Family Trust, 977 N.W.2d 919, 927. PART 1. NATURE, CHARACTERISTICS, AND TYPES OF TRUSTS CHAPTER 1. DEFINITIONS AND DISTINCTIONS § 1. Scope of This Restatement D.Colo.Bkrtcy.Ct.2022. Com. (b) cit. in disc. After spendthrift trust filed for Chapter 11 bankruptcy relief, secured creditor filed a motion to dismiss, alleging that debtor was not eligible for federal bankruptcy relief. This court granted secured creditor's motion to dismiss, holding that debtor was not a business trust such that it qualified for Chapter 11 relief, because the terms of the trust agreement creating debtor made no mention of business activities, and debtor's sole activity was maintaining a residential home for trust beneficiaries to live in without paying rent and taxes, which did not constitute COPYRIGHT C2023 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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