Page 2 - Trust Code News Today

H.B. 1552 bill in Texas has been submitted that would provide a trustee release relief for transactions described in an accounting where a beneficiary fails to timely object to the accounting and there is no fraud, intentional misrepresentation, or material omission.

A recent bill (H.B. 1552) has been submitted that would provide a trustee release relief for transactions described in an accounting where a beneficiary fails to timely object to the...

Unanticipated changes in the law or circumstances may derail a careful plan to preserve a client’s intent to transfer wealth through trusts. A “trust protector”...

To understand and evaluate the competing approaches concerning the use of nonjudicial settlement agreements, one must look to the Code sections themselves, the legislative history behind them and the intent of the authors of the revisions to the Trust Code.

​​​​​​​In Ackers v. Comerica Bank & Trust, N.A., a life-time beneficiary of a trust filed a claim for a declaration regarding whether certain contingent remainder beneficiaries were...

Texas Supreme Court Ackers v. Comerica Bank & Trust life-time beneficiary of a trust filed a claim for a declaration regarding whether certain contingent remainder beneficiaries were beneficiaries ruled whether contingent interest is unripe ruling on interpretationn of Texas Trust Code

October 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October applicable federal rate...

The October applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a note having a duration...

In In re Poe Trust, there were three co-trustees of a trust, and the trust required them to act jointly. No. 20-0179, 2022 Tex. LEXIS 548 (Tex. June 17, 2022).

In re Poe Trust, three trust co-trustees were required to act jointly. One trustee, Dick, effectively acted as a sole trustee during his life. After Dick died, his executors could not agree and one filed trust modification requests. His jury trial demand was denied.