by Christian Niklas, Esq. | Nov 2, 2021 | Articles
In New York, no mistake made in good faith and in the exercise of due care in connection with the administration of a trust shall impose liability on the Trustee if, promptly after the discovery of the mistake, the Trustee shall take whatever action may be practicable...
by Christian Niklas, Esq. | Nov 2, 2021 | Articles
Part 1.The Trust The trust, as we know it today, began in medieval England. This concept originated not as a separate area of the law, but rather a blend of English common law and through the Court of Chancery, which was a court of equity (fairness). This content is...
by Christian Niklas, Esq. | Nov 2, 2021 | Articles
Trusts are a contract between a trustee (the person charged with managing the trust and its assets) and a grantor (the trust creator and person placing assets into the trust, also known as the trust maker or settlor) and are governed by each state enacting laws...
by Christian Niklas, Esq. | Nov 2, 2021 | Articles
If not, who pays the gift tax, the beneficiary or the trustee from trust funds? Generally, there are 2 broad categories of trusts, revocable (the trust-maker retains the right to change the terms of the trust) and irrevocable (the trust-maker gives up all rights to...
by Christian Niklas, Esq. | Nov 2, 2021 | Articles
To answer this question, we will highlight some concepts discussed in an article by Jersey M. Green & Marilyn W. McWilliams – Preserving the Disabled Plaintiff’s Access to Public Benefits with the Special Needs Trust, Colo. Law., MAY 1996, at 49, 50....
by Christian Niklas, Esq. | Nov 2, 2021 | Articles
In Colorado, can a trustee use trust assets to defend a lawsuit against that same trustee, and what does that mean to the beneficiary? In general, Colorado follows the traditional American Rule that, absent statutory authority, an express contractual provision, or a...
