Recent Cases of Interest to Fiduciaries: February 2013

February 28, 2013

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 (9thCir. 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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