In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following:
- DeRouen v. Bryan , 2012 Tex. App. LEXIS 8635 (Tex. App. 2012)
Trustee not held liable for distributions misappropriated by beneficiary’s spouse.
- Milton H. Greene Archives, Inc. v. Marilyn Monroe LLC , 692 F.3d 983 (9th Cir. 2012)
In Marilyn Monroe LLC, the 9th Circuit Court of Appeals held that the beneficiaries of Marilyn Monroe’s estate did not inherit a posthumous right of publicity because Marilyn was domiciled in New York at the time of her death and New York law does not recognize such a right.
- In re Stewart , 2012 Ariz. App. LEXIS 158 (Ariz. App. 2012)
An Arizona appellate court upheld the validity of in terrorem clauses in the decedent’s estate plan documents.
- Miami Children’s Hospital Foundation v. Miami Care Foundation , 2012 Fla. App. LEXIS 17440 (Fla. 2012)
Trust amendment was not ambiguous as to the testator’s intent to benefit the Miami Children’s Hospital Foundation.
- In re: Estate of Martelli , 2012 Phila. Ct. Comm. Pl. LEXIS 318 (Pa. 2012)
Court removed co-fiduciaries where hostility among the co-fiduciaries resulted in mismanagement of the trusts and estate.
- Church of the Little Flower v. US Bank , 2012 Ill. App. LEXIS 905 (Ill. App. 2012)
Trustees’ fees alone will not justify termination or modification of a trust where contrary to the terms of the trust instrument.
- The Sunrise Trust et al. v. Morgan Stanley & Co., Inc. et al. , 2012 U.S. Dist. LEXIS 148485 (Nev. 2012)
Court upholds arbitration award dismissing breach of fiduciary duty claim against Morgan Stanley.
- DC Comics v. Pac. Pictures Corp. , 2012 U.S. Dist. LEXIS 149532 (Cal. 2012)
Royalties Contract Upheld as Binding.
- Ames v. Ohle, et al. , 2012 La. App. LEXIS 1285 (Louisiana Ct. App. 2012)
Plaintiff’s causes of action accrued when she received partial information and the limitations period expired despite concealment by defendant trustee.
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