A spouse's interest in an irrevocable trust, normally established by the spouse's parent or other relative, is not subject to equitable distribution in a divorce. But what about an irrevocable trust established by one of the spouses? A new Florida case holds that an irrevocable trust, established by one spouse for the benefit of the other spouse, is not subject to equitable distribution in a divorce.
The citizenship of a traditional trust for purposes of federal court’s diversity requirement is determined by the citizenship of the trust’s trustees. Diversity jurisdiction is a form of subject matter jurisdiction permitting a federal court to hear a particular case. Complete diversity between the plaintiffs and defendants is required. That means that none of the plaintiffs may be from the same state as any of the defendants.
In Hilgendorf v. Estate of Coleman, the Court held that absent any claim of breach of fiduciary duty in carrying out the terms of the trust, there is no duty to account to a contingent beneficiary during the lifetime of the settlor while the trust is revocable. It stands to reason then that if a contingent beneficiary wished to obtain pre-death accountings during the period when the trust was revocable he or she would have to make a claim for breach.
Trust accounting litigation can be messy and expensive. In a recent trial, attorney Jeffrey Skatoff prevailed in a trust accounting and probate accounting dispute.
Brian Spiro and the attorneys at Clark Skatoff successfully resolved a probate and trust dispute by providing a tremendous result for their clients. On behalf of the Decedent’s intestate heirs, challenges were raised to three (3) wills and four trust (4) amendments. Every such document needed to be invalidated in order to prevail. An uphill battle to say the least. Mr. Spiro gave a 110% effort in order to achieve a result equivalent in percentage to his effort. In short, Mr. Spiro was able to provide his clients a recovery approximately 10% greater under the settlement than his clients could have achieved had they been successful in trial.
Attorneys at Clark Skatoff successfully settle Federal trust contest case in the Southern District of Florida. Attorneys Jeffrey Skatoff and Anya Van Veen, on behalf of the daughter and grandchildren of a deceased resident of Florida, brought suit in Federal District Court for the Southern District of Florida to challenge a trust amendment to a revocable trust.