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Review of Reviews: “Sherlock Holmes and the Problem of the Dead Hand: The Modification And Termination of ‘Irrevocable’ Trusts,” 28 Quinnipiac Pro. L. J. 237-301 (2015)Review of Reviews: “Sherlock Holmes and the Problem of the Dead Hand: The Modification And Termination of ‘Irrevocable’ Trusts,” 28 Quinnipiac Pro. L. J. 237-301 (2015)

Richard C. Ausness, Associate Dean for Faculty Research and Everett Metcalf, Jr. Professor of Law, University of Kentucky College of Law, Lexington, Ky.

Elizabeth K. Miller, Founder and Head

January 27, 2016

4 Min Read
Review of Reviews: “Sherlock Holmes and the Problem of the Dead Hand: The Modification And Termination of ‘Irrevocable’ Trusts,” 28 Quinnipiac Pro. L.

Advisors often address inquiries from both trustees and beneficiaries as to how an irrevocable trust can be updated, amended or even dissolved to reflect the current needs of those involved.  The answers to these questions are extremely individualized and often complex, being ultimately determined too many times in the courts. While there’s little reference here to Sherlock Holmes (despite the title), Professor Richard C. Ausness does a thorough job of documenting how the “dead hand” of settlors has dominated irrevocable trust court rulings to date, and he proposes that it’s time for the influence of “long-dead ancestors” to be limited.

In his article, Prof. Ausness identifies a need for more clarity in the area of irrevocable trust modif...

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About the Author

Elizabeth K. Miller

Founder and Head

https://www.summitplacefinancial.com/SummitPlace/leadership.php

 

Elizabeth K. Miller is founder and head of Summit Place Financial Advisors, LLC., which was established to provide personalized asset management and a boutique family office experience to successful families and individuals. Previously she was a principal owner of Trevor Stewart Burton & Jacobsen Inc., where she led the firm’s equity research activities and the investment committee’s stock selection. Ms. Miller started her career as a mergers and acquisition and proprietary trading analyst for the First Boston Corporation. Ms. Miller is a member of the Alumni Board of Governors for the Sphinx Society of the University of Pennsylvania, a past member of the Board of Trustees for the New York Society of Security Analysts (CFA Society New York) and a past chair of the Private Wealth Management Committee there. She also served on the Private Wealth Advisory Committee for CFA Institute, which helped provide global leadership in identifying the industry’s priorities and setting an educational agenda for private wealth professional excellence. Each summer, she joins the faculty of the Chautauqua Institute Special Studies Program, in wealth management. She has been a guest of CNBC, Reuters, BNN, Bloomberg, and Businessweek TV and may be heard on Bloomberg radio and Dow Jones’ Marketwatch. Ms. Miller received a BS in economics from the Wharton School at the University of Pennsylvania and an MA from Columbia University.