1 / 7

Remedies Against Beneficiary

Remedies Against Beneficiary. 1. Misappropriation -- § 114.031. Beneficiary has misappropriated or otherwise wrongfully dealt with trust property. 2 . Involved with breach -- § 114.031. Consented to breach Participated in breach Agreed to be liable for trustee’s breach.

fruma
Download Presentation

Remedies Against Beneficiary

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Remedies Against Beneficiary

  2. 1. Misappropriation -- § 114.031 • Beneficiary has misappropriated or otherwise wrongfully dealt with trust property.

  3. 2. Involved with breach -- § 114.031 • Consented to breach • Participated in breach • Agreed to be liable for trustee’s breach

  4. 3. Failure to repay loan or advance § 114.031

  5. 4. Failure to repay excess distribution -- § 114.031 • E.g., mistaken payment under § 114.004.

  6. 5. Breach of contract to contribute to trust -- § 114.031 • E.g., beneficiary promises to add his/her own property to the trust and then fails to do so.

  7. Trustee’s right of offset -- § 114.031 • Trustee may offset even if trust has a spendthrift provision.

More Related