Delaware Supreme Court Upholds Trust Pre-Mortem Validation Statute
On Ravet v. Northern Trust Company of Delaware and Barry C. Fitzpatrick, in Their Capacity as Co-Trustees
C.A. No. 7743-VCG
Order of the Delaware Supreme Court (Feb. 12, 2015)
The Delaware Supreme Court issued an order affirming a bench ruling and letter opinion of the Court of Chancery precluding an action to contest the validity of a trust under Delaware’s pre-mortem validation statute, 12 Del. C. § 3546. In the Court of Chancery matter, In the Matter of Restatement of Declaration of Trust Creating the Survivor’s Trust Created Under the Ravet Family Trust Dated Feb. 9, 2012, C.A. No. 7743-VCG, V.C. Glasscock (June 4, 2014), Petitioner, claimed that the restatement of Petitioner’s mother’s revocable trust was the product of undue influence by his sister. The Delaware Supreme Court affirmed the Court of Chancery’s holding that Petitioner’s claim against the co-trustees of the trust was time-barred because notice under 12 Del. C. § 3546 was delivered to his last known address and he failed to challenge the trust within 120 days and provided no credible evidence that the notice wasn’t delivered.
Click here to download Morris Nichols analysis of the order.