Remedies Against Beneficiary

Slides:



Advertisements
Similar presentations
Remedies for Breach of Contract pages By Lauren Conroy.
Advertisements

Slides developed by Les Wiletzky Wiletzky and Associates Copyright © 2006 by Pearson Prentice-Hall. All rights reserved. PowerPoint Slides to Accompany.
 Must be “interested person”  Beneficiary  Trustee  Attorney general (charitable trusts)  Others affected by the trust?
© 2007 ME™ (Your Money Education Resource™) 1 Estate Planning for Financial Planners Chapter 8: Trusts.
Contract Rights and Duties
 Trustee has an absolute and unqualified duty to pay the correct beneficiary.
CHAPTER TWO FINANCING: NOTES AND MORTGAGES. Chapter Objectives Define the mortgage note Define and explain the mortgage Identify the different mortgage.
W HAT ARE ADVANCES ?. A DVANCES ARE LOANS AGAINST THE FUTURE RENEWALS ON EACH CASE.
TRUSTS: CREATION, TYPES, AND CHARACTERISTICS Definition of a Trust A trust is a legal device that separates the benefits of property ownership from the.
 Single document containing wills of two or more persons.
A provision which typically prohibits:  Beneficiary from transferring right to future payments of income or principal.  Beneficiary’s creditors from.
CONTRACT LAW. Promissory agreement between two or more persons that creates, modifies, or destroys a legal relation. Legally enforceable promise to do.
 Purpose = Allow beneficiary to obtain information to see if trustee is breaching duties.  Some states require annual accountings even without request.
Mutual Assent and Defective Agreement
Chapter 19 Trust Creation All the basic information on how to do it…
Forms of Business and Formation of Partnerships Chapter 37.
Presented by Ryan M. Lower of the Morris Law Group.
Copyright © 2007, The American College. All rights reserved. Used with permission. Planning for Retirement Needs Plan Funding and Investing— Part I Chapter.
© 2010 by Cengage Learning Deed of Trust Chapter 10 ________________ Deed of Trust.
Willem C. Vis International Commercial Arbitration Moot.
Legal Terminology Biomedical Technology Curriculum/ 2004.
Business Law and the Regulation of Business Chapter 32: Operation of General Partnerships By Richard A. Mann & Barry S. Roberts.
Copyright © 2004 by Prentice-Hall. All rights reserved. PowerPoint Slides to Accompany BUSINESS LAW E-Commerce and Digital Law International Law and Ethics.
Close Corporations ONR 314. Chapter 28: Internal Relations Duties of care and skill Owe duties to corporation.
Remedies Against Trust Property. Tracing into Commingled Account Trustee’s $Trust’s $Acc’t Balance Opening Balance (that is, before Trustee turns evil)
Business & Personal Law “Assignment, Delegation, and Breach of Contract”
Exam Review Course Manual – Page 5 F. TRUST DEEDS AND MORTGAGES 1. General Information a. Trustor – Signs the trust deed b. Beneficiary – Loans money Consent.
There are several options open to you and these need to be discussed with one of our advisors to find the most suitable option for your personal circumstances.
Chapter 21 Creditors’ Rights and Bankruptcy Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior.
SUBROGATION AND PREMIUM. Principle of subrogation Subrogation is the substitution of one person in place of another, whether as a creditor or as a possessor.
Classification of Trusts, the Living Trust, and Other Special Trusts
CONSIDERATION.
Chapter 17 Contract Provisions in Life Insurance
How does leasing bank guarantees work
PRESS F5 to start this power point presentation
NH & VT Trust Laws: Differences That May Matter NH &VT Council of Charitable Gift Planners June 1, 2017.
Performance of Contract
GURANTEE.
TRUST ADMINISTRATION Paul B Davis, Higgs & Johnson
The use of anti-assignment clauses
Assignment, Delegation & Breach of Contract
بنام خدا موضوع: جبران خسارات ناشی از عدم انجام تعهد در کنوانسیون1980وین دانشگاه علامه طباطبایی سلمان زیلابی کارشناسی ارشد حقوق مالکیت فکری.
Liability ShieldTM Property Protection Planning
Managing Tenant Covenants and Condition
Partnership.
Life Insurance Trusts.
Introduction to Trusts
Consumer Ed Review Game
performance of contract
Business Law presentation on:
Indemnity and Guarantee
PRESS F5 to start this power point presentation
Chapter 34 Small Business, Entrepreneurship, and General Partnerships
Biomedical Technology
Spendthrift Provisions
Trustee Powers.
TRUSTS Introduction.
Fiduciary and Trust litigation: How to avoid it
Duty of Loyalty.
DEBT.
Accountings.
Contract Liability.
Tort Liability.
Combination Wills.
Barring of Remedies.
CREDITOR’S AND DEBTOR’S RIGHTS
Life Insurance Trusts.
Resulting Trusts.
Trustee Compensation.
Trust Distributions.
Presentation transcript:

Remedies Against Beneficiary

1. Misappropriation -- § 114.031 Beneficiary has misappropriated or otherwise wrongfully dealt with trust property.

2. Involved with breach -- § 114.031 Consented to breach Participated in breach Agreed to be liable for trustee’s breach

3. Failure to repay loan or advance § 114.031

4. Failure to repay excess distribution -- § 114.031 E.g., mistaken payment under § 114.004.

5. Breach of contract to contribute to trust -- § 114.031 E.g., beneficiary promises to add his/her own property to the trust and then fails to do so.

Trustee’s right of offset -- § 114.031 Trustee may offset even if trust has a spendthrift provision.