It's the latest ruling in a series of New York decisions on trustee liability for improper retention of concentrated stock positions known, collectively, as the Kodak-IBM cases: On Feb. 3, an appellate court reversed the famous Dumont ruling that...
Kodak. IBM. Coca-Cola. The names are corporate icons. And these blue-chip stocks, if held in the portfolio of any trust, once meant a life of quiet contentment for both trustees and beneficiaries. No more. There's been a rise in lawsuits by...
One of the most talked about cases among panelists at the Recent Developments-2005 session at this year's Heckerling Institute on Estate Planning, held Jan. 9 through 13 in Miami, was Rudkin a case in which the Internal Revenue Service is trying...
Any trusts and estates attorney who has been in practice for more than a few years is likely to have dealt with an incapacitated trustee. A common problem is that of a superannuated trustee who is no longer capable of either administering a trust...
Penitence Pays Off for Putnam: The SEC filed charges against six former officers of Putnam Fiduciary Trust Company (PFTC) for helping to defraud a defined contribution client and a group of Putnam mutual funds of approximately $4 million. In the...
A Chicago financial advisor recently lamented to me: I feel like we're offering a complete array of wealth-management products and services, but we aren't as consistent in delivering those products and services as we should be. The advisor's...