People appointed to enforce trusts for a stated purpose have legal duties unless the trust says otherwise, and accepting the role lets Delaware courts hear related cases involving them.
People appointed to enforce a trust for a stated purpose have legal duties when using that power unless the trust says otherwise. The trust may give one person the sole right to enforce it.
A trust for a stated purpose with no identifiable beneficiary can be changed without a beneficiary's written approval. Unless the trust says otherwise, every enforcer serving at the time must give written consent or written nonobjection.
When trust payments depend on a person's judgment, a beneficiary cannot force a payment. They can still ask a court to review whether that person abused that judgment.
Trustees and other trust officeholders may resign through a trust change by consent while its creator is alive. If that route and the trust's own resignation routes do not apply, they may use an agreement made without court.
When one spouse gives property through a trust that spouse created for the other, the recipient's interest stays out of property divided in a divorce unless the trust expressly says otherwise.
People appointed to enforce a trust have legal duties when using that power unless the trust says otherwise. This covers people appointed to enforce trusts set up for a stated purpose. The trust may give an enforcer or someone else the sole right to enforce its terms. Accepting the role lets Delaware courts hear trust-related cases involving that person. The act says these rules take effect upon enactment and apply to trusts whenever created.
A trust can be changed without a beneficiary's written approval when no beneficiary can be identified. This covers trusts set up for a stated purpose that have no identifiable beneficiary. Unless the trust says otherwise, each enforcer serving when the trust is changed must give written consent or written nonobjection. For an agreement made without court, each serving enforcer counts as an “interested person,” meaning someone the agreement rules recognize. The act says these rules take effect upon enactment and apply to trusts whenever created.
A beneficiary cannot force a trust payment that depends on the judgment of the person deciding whether to pay. This includes a payment described as required when other trust language leaves the payment to that person's judgment. A beneficiary may still ask a court to review whether the person deciding on payments abused that judgment. The act says this rule takes effect upon enactment and applies to trusts whenever created.
Trustees and other people with official trust roles may resign through a trust change or an agreement made without court. This covers trustees and other named trust officeholders, including people appointed to enforce a trust. A trust change by consent can be used while the person who created the trust is alive. An agreement made without court can be used when the trust's own resignation routes and a trust change by consent do not apply. In other cases, resignation requires approval from Delaware's Court of Chancery. The act says these rules take effect upon enactment and apply to trusts whenever created.
A spouse's interest in a trust created by the other spouse is left out of property divided in a divorce. This concerns property one spouse gives through a trust that spouse created for the other spouse. The spouse giving the property must have created the trust, and the other spouse must be a beneficiary. The trust can expressly provide for different treatment. The act says this rule takes effect upon enactment and applies to trusts whenever created.
No hearings or votes scheduled.