Around The Water Cooler this morning, we’re discussing trustees gone wild, exculpatory clauses, and presidential politics.
- It appears that the democratic ticket in this year’s general presidential election is not the only candidate who might have issues with a private foundation. In Bloomberg BNA, staff reporter Colleen Murphy details alleged self-dealing at the Trump Foundation.
- In Lexology, Luke Lantta at Bryan Cave details and provides commentary on In re Scott David Hurwich 1986 Irrevocable Trust, an Indiana case in which the state Court of Appeals limited the relief from liability provided by an exculpatory clause in the trust agreement.
- Dawn Markowitz, legal editor at Trusts & Estates, provides an in depth analysis of a court opinion handed down this month in the Southern District of California which found personal liability for unpaid estate taxes.
- Finally, trustees gone wild:
- Out of California comes an all too familiar tale of a family member trustee who depleted the assets of a sizeable family trust.
- From Long Island comes a story about an attorney who pilfered a trust for which he was serving as trustee in order to pay his own personal expenses.
- Finally, a story of a trustee swindling funds from a trust set up for an autistic adult.