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: Trustee appointment
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
Provisions of trust documents requiring that successor trustees that may be appointed in the future must be partners of a named law firm does not require that the trustee who is appointed and accepts the appointment must remain a partner … 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
When a will has no provisions for the resignation of, or successors to, a testamentary trustee, 20 Pa.C.S. §§ 7765(a.1(e) and 7764(c)(2) allow the beneficiaries to accept the resignation of the corporate trustee, and allow the qualified beneficiaries to appoint … Continue reading
Judge Tunnell of Chester County addressed a number of interesting and practical issues in his adjudication in Griggs Revocable Trust, 9 Fid.Rep.3d 85 (Chester O.C. 2019), including whether a trustee who has resigned (or been removed) can delay transferring trust...
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When trust document specifically excluded son from discretionary distribution decisions for son’s trust, son may be appointed to serve as a trustee but may not be the sole trustee. It was proper for the corporate trustee who had been appointed … Continue reading
The Superior Court has affirmed a decree of the Philadelphia Orphans’ Court denying the validity of attempted appointments of a successor trustee (or, in the alternative, removing the successor trustee appointed) by the resigning trustee and by the settlor, and … Continue reading