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Case Citations [1] (Spring 2025)

handle is hein.ali/rettgp2439 and id is 1 raw text is: THE AMER ICAN LAW INSTITUTE Spring 2025 Citations TRUSTS 3D Generally D.Colo.Bkrtcy.Ct.2024. Cit. generally in disc. A spendthrift trust filed a petition for relief under Chapter 11 of the Bankruptcy Code, seeking to avoid attempts by its secured creditors to foreclose on a luxury property that was the trust's primary asset and where the trust's sole beneficiary resided. This court granted creditors' motion to dismiss, holding that the trust was not a business trust that was entitled to bankruptcy protection, because, as a trust primarily intended to maintain the lifestyle of its individual beneficiary, it had no centralized management, it was not made for a business purpose, and its interests were not transferable without affecting the continuity of the enterprise. The court noted that Restatement Third of Trusts did not address the term business trust except to specify that business trusts were excluded from its purview. In re Tiel Trust I FBO Paula T. Douglass, 656 B.R. 810, 835. Cal.App.2024. Cit. generally in case cit. in ftn. Beneficiary ofdecedent's irrevocable trust filed a petition asserting claims for breach of fiduciary duty, financial elder abuse, and the return of trust property against former co-trustee. After a bench trial, the trial court rejected defendant's argument that plaintiff s claims were released in a settlement between defendant and successor co-trustees of the trust, finding that plaintiff was not bound by the settlement because it was executed without notice to him. Affirming, this court held that the right to release a claim belonging to the trust did not empower a trustee to release claims belonging to the beneficiaries. The court cited the Restatement Third of Trusts in noting that a trustee's obligation to a trust constituted an asset of the trust estate, whether that trustee continued administering the trust or was replaced by a successor trustee. Asaro v. Maniscalco, 323 Cal.Rptr.3d 275, 290. Md.App.2024. Cit. generally in case quot. in sup. and cit. generally in Uniform Trust Code Prefatory Note in ftn. Successor trustee of decedent's trust filed a petition seeking attorneys' fees from the trust for legal work that he had hired himself to perform on behalf of the trust. Following a hearing, the trial court denied trustee's petition, finding that trustee's self-hiring posed a conflict of interest in violation of the Maryland Trust Act. This court reversed and remanded, holding that the Act's provision governing conflicts of interest did not prohibit trustee from seeking reasonable compensation for legal services he performed for the benefit of the trust The court noted that the Maryland Trust Act was a modified version of the Uniform Trust Code, which was drafted in close coordination with the writing of the COPYRIGHT 02025 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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