delegation-john-c-lindley-iii

Breach of Trustees’ Fiduciary Duty – Part 4: Duty to Delegate

At common law, trustees had a fiduciary duty not to delegate tasks they can perform themselves.  However, our current financial system’s increasing complexity makes it unreasonable for many trustees to manage trust assets on their own.  The opportunities for investments are endless, and the sophistication of even basic financial instruments has increased since the creation Read More

duty-to-report-john-c-lindley-iii

Breach of Trustees’ Fiduciary Duty – Part 3: Duty to Administer Trusts Prudently and Duty to Inform, Report, and Maintain Adequate Records

          In Part 2 of this series, we examined trustees’ duties of loyalty and impartiality.  This post will examine the duty to administer trusts prudently and Part 4 will discuss the duty to delegate – or not delegate – in more depth.  The duty to administer trusts involves the basic values Read More

Courthouse John C Lindley III

Accelerating Estate Disputes: The Living Probate Option

          North Carolina joins four other states in providing a path to ensure decedents’ assets are distributed according to their wishes upon death.[1]  The North Carolina General Assembly recently enacted legislation amending statutes regarding estate administration by adding a procedure for “living probate.”  This action is usually commenced by a testator Read More

last will and testament

N.C. Court of Appeals: Caveators Were Not Prejudiced By Dead Man’s Statute Since the Jury “heard the gist of caveators’ evidence.”

          In 1960 Charles Pickelsimer (“Charles”) inherited significant stock holdings in a family telecommunications company.[1]  Over the next 45 years, Charles gave his children and grandchildren stock certificates as gifts.  When he sold the company in 2008 for $65 million, Charles and his children received significant cash distributions.  In 2009, Charles Read More