Trusts can be terminated in a variety of ways. Trusts may be terminated because, over time, the goals of the trust become impossible to achieve. Last month, the Michigan Court of Appeals heard a case, Trupp v. Naughton, presenting such a scenario.[1] The case was based a trust created for three of the settlor’s children: Donna, Brian, and Deborah. The trust contained a lakefront house and directed the adult children to work out a yearly schedule for using the house and paying the maintenance costs. Pursuant to the terms of the trust, the beneficiaries were allowed to terminate the trust and sell the lake house…
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Recorded Conversations: What Kanye West, Kim Kardashian, and Taylor Swift Can Teach Us
Kanye West and Kim Kardashian are not law professors, but in their latest public feud with pop-star extraordinaire Taylor Swift, they are providing an interesting example of the legality of recorded conversations as well as their admissibility in civil court. The Feud Putting aside the inception of the feud (“Imma let you finish…”) and the back and forth since then, the most recent chapter began when Kanye West released his song “Famous” earlier this year with lyrics referencing Taylor Swift: “I feel like me and Taylor might still have sex / I made that bitch famous.” West claims that he obtained Swift’s consent for the lyrics during a…
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Eight Questions and Answers about Fiduciary Litigation
What is fiduciary litigation? Fiduciary litigation encompasses a wide range of legal actions including, without limitation, trust and estate litigation, will contests (also referred to as caveat proceedings), breach of individual and corporate fiduciary duty claims, and guardianship proceedings. Fiduciary litigation is becoming increasingly relevant as the baby boomer generation continues to age. What is a fiduciary? A fiduciary is an individual or corporation in whom another places trust and confidence to act in their best interest. Generally speaking, a fiduciary is tasked with prudently caring for the financial assets of another. What are the types of fiduciary relationships? Relationships created by statute, such as in…
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Four Legal Documents Dementia Patients Should Have in Place
A diagnosis of dementia, which includes Alzheimer’s disease and other memory loss and/or cognitive reasoning disorders, is potentially devastating for both the patient and their family. Following a dementia diagnosis, it is important to execute these four essential planning documents to avoid further hardship in the form of costly court battles. (1) Durable Power of Attorney – A durable power of attorney allows the diagnosed person (the “principal”) to appoint another person (the “power of attorney”) to act on the principal’s behalf if and when the principal becomes incapacitated. A power of attorney can have a wide range of authority and discretion, from paying bills to selling…
