The trust document stated that the beneficiary of a trust “shall become a Co-Trustee of his or her respective trust” upon reaching thirty years of age. By several emails sent to the trustee already serving and to the financial institution … Continue reading
Tag Archives: Situs of trust
The word “situs,” from the Latin for “position” or “location,” is often used in connection with three different issues: which state’s courts have jurisdiction over the administration of the trust, which state’s laws govern the interpretation or administration of the...
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S.B. 1231 has been passed by both houses of the Pennsylvania legislature and was signed by the governor on July 15, 2024, becoming Act 64 of 2024, P.L. ___, to be effective in 90 days. The bill adopted changes to...
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The attempt by the beneficiaries to change the situs of a trust which was the subject of litigation was properly disregarded by the Orphans’ Court, even though the trust document specifically allowed the beneficiaries to change the situs, because under … Continue reading
An appeal of an order directing emergency distributions from a trust to preserve licenses for seats for the Los Angeles Lakers did not become moot after the trustee made the distributions because the trustee had raised a jurisdictional issue that … Continue reading
The validity of the appointment of a successor trustee by the beneficiaries of the trust for a trust that was created by California settlors and provided for the interpretation of the trust in accordance with California law was to be … Continue reading
The U.S. Supreme Court has held that a state cannot tax the undistributed income of a trust when the only connection between the state and the trust is that beneficiaries of the trust reside in the state but the beneficiaries … Continue reading
Testator died leaving a trust under her will for her children, creating powers of appointments for each child, and an administrative power, allowing the removal of the corporate trustee with the consent of all income beneficiaries. After the death of … Continue reading
Change of situs of a testamentary trust was denied under 20 Pa.C.S. § 7708(c) when all qualified beneficiaries and one trustee consented to the change but one trustee did not consent, but change approved under § 7708(g) when the court … Continue reading
In an action to change the situs of a trust and change the corporate trustee, the court held that the action was brought in the wrong venue, because the situs of the trust was in another county, and that 20 … Continue reading