An interesting article on msnbc.com from a few days ago sheds light on how modern day estate planning probably needs to catch up with the practicalities of modern day life. Specifically, the article’s author discusses how, years ago, when an individual died the survivors typically conducted a search of the house, papers, safety deposit box, etc. in order [...]
Archive for October, 2009
Modern Recordkeeping Fraught With Potential For Abuse When Individuals Die
Posted in Breach of fiduciary duties, Duties of executors, Duties of trustees, In the news, Misappropriation of assets, Rights of beneficiaries, Self-dealing, tagged administrator, assets, computer, digital, estate planning, lawsuit, liabilities, recordkeeping on October 28, 2009 |
Questions About Notarized Document Result In Reversal Of Trial Court’s Ruling
Posted in Powers of attorney, Recent Arkansas appeals, Rights of beneficiaries, tagged arkansas appeal, notaries, notary public, power of attorney, signature, will on October 28, 2009 |
More times than I can count since I started practicing law, I have been involved in lawsuits in which the authenticity of a signature on a document was a primary disputed issue in the case. Whether our law firm was representing the plaintiff who was suspicious of a signed document, or instead representing the defendant who was insisting upon the validity [...]
Children Of Dr. Martin Luther King, Jr. Settle Dispute Over Father’s Estate
Posted in Breach of fiduciary duties, Duties of executors, In the news, Misappropriation of assets, Rights of beneficiaries, tagged assets, children, estate litigation, executor, jury trial, Martin Luther King, property rights, siblings on October 24, 2009 |
Anyone who knows me is aware of my admiration for Dr. Martin Luther King, Jr. as a speaker, preacher, writer, community activist, and proponent of peace and nonviolence. Many do not appreciate the fact that he was much bigger than a mere advocate for racial equality, but rather was a warrior for the larger causes of social and economic justice. [...]
Newly-Discovered Assets In Old Estate Result In New Litigation
Posted in Duties of executors, Recent Arkansas appeals, Rights of beneficiaries, Rights of creditors, tagged arkansas, assets, creditors, estate, Fayetteville Shale, insolvent, probate, solvent, tennessee on October 22, 2009 |
A recent decision from the Arkansas Court of Appeals in Ellingsen v. King, 2009 Ark. 655 (October 7, 2009) illustrates how some long-forgotten but newly-discovered property can often send family members and creditors scrambling for their piece of the pie. This interesting case involved Mr. McAlexander, who died in 1988 a resident of Shelby County, Tennessee. An [...]
Statute Of Limitations For Breach Of Trust Suits Against Trustees
Posted in Breach of fiduciary duties, Duties of trustees, Rights of beneficiaries, Statute of limitations, tagged Arkansas Trust Code, beneficiaries, breach, Breach of fiduciary duties, breach of trust, duties, fraudulent concealment, Statute of limitations, tolled, trust litigation, trustee on October 16, 2009 |
A couple of the most frequent questions in estate, trust, and probate litigation are: (from trust beneficiaries) “How long do I have to sue a trustee for breach of trust?”, and (from trustees or potential trustees) “How long must I be concerned about potentially being sued for an alleged breach of trust?” The Arkansas Trust Code (at [...]
Last Will And Testament Of Entertainer Michael Jackson
Posted in In the news, Interpretation of wills/trusts, tagged beneficiaries, michael jackson, will on October 3, 2009 |
Michael Jackson’s recent death shocked the world, notwithstanding his controversial and mysterious past. The famous singer will not soon be forgotten, however, if nothing else because of the money, property, and incredible fortune that he left behind to his heirs. Word is that he had incurred substantial debt at the time of his death, but royalties alone from his catalogue of [...]
No Breach Of Fiduciary Duty In Unique Trust Lawsuit
Posted in Breach of fiduciary duties, Duties of trustees, Misappropriation of assets, Recent Arkansas appeals, Self-dealing, tagged assets, Breach of fiduciary duties, encumber, mismanagement, Self-dealing, trust, trustee on October 2, 2009 |
The Arkansas Court of Appeals recently ruled in an interesting case that a trustee’s encumbrance of trust property did not, under the specific circumstances involved in the dispute, constitute a violation of the trustee’s fiduciary duties. Ordinarily such actions are looked down upon, but this case is an instance in which the unique facts involved apparently warranted a slight departure [...]
General Duties Of A Trustee Under Arkansas Law
Posted in Duties of trustees, tagged administer, administration, breach, care, confidentiality, control, cotrustee, duties, impartiality, loyalty, prudent, report, revocable trust, trust property, trustee on October 1, 2009 |
Clients and potential clients—whether a beneficiary of a trust or perhaps even the trustee of a trust—often ask about the duties of a trustee under Arkansas law. This is a very broad question and cannot be done justice in a single Blog post. However, in general (unless the trust specifically overrides the general requirement) a trustee [...]
