John Wick - What You Need To Know about the Corporate Transparency Act
Once Removed Episode 24: Expressing Goals and Intent for the Trust
Once Removed Episode 23: Naming Guardians for Minor Children
Digital Planning Podcast Episode: Planning for Influencers
A Primer On Trusts - A Podcast with Janathan Allen
Once Removed Episode 12: SLATs and the Case of McKim vs. McKim
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
Once Removed Episode 10: Trustee Removal and Case Update on Leo Kahn Revocable Trust
Nonprofit Basics: Meeting Minutes Best Practices
Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation
The Case of the Disappearing Trust
Protecting Your Estate Plan from Challenges: No-Contest Clause Explained
Estate Planning 101: The Five Most Important Clauses for Wills and Trusts
Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan
THE PAPER CHASE
Investment Management Update – Exit Strategies
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
A successor trustee is the individual named in a trust document to step in as trustee in the event of the original trustee’s death, incapacitation, or resignation. A successor trustee assumes the role of safeguarding the...more
Background on Purpose Trusts - The private discretionary trust is the most widely known form of trust where trustees are given a fund of money to manage and distribute amongst certain named or described beneficiaries who...more
Managing the assets left in a trust is a major responsibility: It’s your job to properly manage and administer trust assets to the letter—or potentially face costly legal consequences. In the instance of a lawsuit, trustee...more
It doesn’t matter whether the trust you manage owns commercial or residential real estate—the challenges are the same. The property’s location, value, and construction only determine the extent of these challenges. In this...more
Since the introduction of the Insurance Act in 1979, the Cayman Islands has established itself as one of the largest, and most sophisticated, centres for international insurance business. As of the first quarter of 2023, the...more
The United States Bankruptcy Court for the Northern District of Illinois, applying Illinois law, has held that an insured v. insured exclusion in a D&O policy bars coverage for a trustee’s claims against a bankrupt insured...more
A client recently told me about a conversation he’d had with an institutional co-trustee. The co-trustee was pushing back on the approval of a trustee liability policy. The institutional co-trustee’s reasoning was that most...more
If you have been asked to serve as a trustee, you no doubt have questions about the duties and responsibilities of the role. You also should be clear on your trustee insurance coverage. Unfortunately, some confusion exists...more
The United States District Court for the Central District of Illinois has held that an insurance policy requires allocation of defense costs based on the parties’ relative legal exposure if it clearly and unequivocally...more
Our December Insurance Update features four cases. The Minnesota Supreme Court decides if a resident-relative exclusion violates public policy. A Texas appellate court considers, for a second time, if damage from...more
“Insurance.” The word itself evokes different reactions. The range of emotions expands when we mention “life insurance.” And if we add, trust – “life insurance trust” – you may just stop reading. But don’t. Now is exactly the...more
In the recent decision of Indian Harbor Ins. Co. v. Zucker, 860 F.3d 373 (6th Cir. 2017), the Sixth Circuit Court of Appeals held that a liquidation trustee’s suit against the debtor’s former directors and officers (D&Os)...more
The Situation: Currently, limited protections exist in Australia for private sector whistleblowers against victimization and detrimental treatment. The Development: The Australian government has released draft law that...more
A federal district court in South Carolina recently granted motions to bifurcate a trial involving various claims, crossclaims, and counterclaims between an insured, reinsurers, and a reinsurance agreement trustee. ...more
We previously reported on this case on January 5, 2016, June 28, 2016, July 20, 2016, and December 14, 2016. The case concerns Companion Property and Casualty Insurance Company’s participation in a fronted insurance program...more
Freestone Insurance Company is a Delaware-domiciled insurer that has been placed in liquidation. U.S. Bank National Association served as the trustee under a reinsurance trust agreement (the “Trust Agreement”) between...more
The last quarter of 2015 produced two interesting decisions from the Appeals Court. In Brady v. Citizens Union Savings Bank, 88 Mass. App. Ct. 416 (2015), the Court addressed whether legal fees and costs already paid to...more
Plaintiff Companion Property and Casualty Insurance Company (“Companion”) brought suit against U.S. Bank National Association (“US Bank”) arising from its role as trustee under various reinsurance collateral trusts that...more
Ninth Circuit Denies Rehearing of Northstar v. Schwab. On April 28, the U.S. Court of Appeals for the Ninth Circuit denied the petition of Schwab Investments’ (Schwab) for rehearing and rehearing en banc in the case of...more
As the wave of litigation spawned by the 2008 financial crisis begins to ebb, insurance-coverage litigation arising out of the credit crisis continues unabated. Financial institutions have successfully pursued insurance...more
If a company files for bankruptcy, allegedly as a result of mismanagement, are claims brought by the bankruptcy trustee against the former management of the company covered by insurance?...more