Trusts, Estates & Tax Law
CLIENT UPDATE: Stone v. Sant, C.A. 890-VCN, V.C. Noble (Del. Ch. July 2, 2010)(Mem. Op.)
The recent Delaware Court of Chancery opinion in Stone v Sant raises several issues of importance to estate planners and fiduciaries. While largely concerned with the fact-intensive questions of testamentary capacity and undue influence common to trues and estate litigation, the opinion is notable in its consideration of the efficacy of debt-forgiveness documents, the liability and calculation of damages incidental to the prudent investor standard, and the complications arising from having Delaware estate-planning documents drafted by out-of-state counsel.
Click here to download the Trusts, Estates and Tax Group Update that focuses on three broadly applicable aspects of the Stone opinion (PDF 322 KB).
CLIENT ALERT: N.K.S. Distributors, Inc. v. Christopher J. Tigani, et al.
A recent Delaware Court of Chancery order applied the attorney/client privilege to communications between a trustee and his counsel to bar a beneficiary of the trust from accessing those communications. The order decided that the trust beneficiary could not compel the trustee’s counsel to produce documents that contained legal advice given to the trustee pertaining to the trust, unless the trustee sought the advice for the benefit of the trust beneficiary.
Click here to download the Trusts, Estates and Tax Group Alert that focuses on three broadly applicable aspects of the Stone opininon (PDF 338 KB).