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Case Citations [1] (July 2019 - April 2020)

handle is hein.ali/respdt9958 and id is 1 raw text is: PROPERTY 2D: DONATIVE TRANSFERS DIVISION III. REQUIREMENTS FOR EFFECTUATING A DONATIVE TRANSFER Introductory Note Mass.App.2019. Intro. Note quot. in sup. Trustee and beneficiary of a nominee trust, which was created to hold six vacant lots adjacent to and between two cottages as part of a family compound, filed a petition to terminate the trust, after one family member acquired full ownership of both cottages. Following a bench trial, the trial court concluded that the material purposes of the trust-to facilitate a family compound and to achieve certain estate-planning objectives-were no longer viable or had already been accomplished, and that continuation of the trust was no longer necessary. Affirming, this court held that termination of the trust was warranted under the Massachusetts Uniform Trust Code (MUTC). The court explained that the trust was governed by the MUTC, because it was undisputed that the trust was an express trust under Restatement Second of Trusts § 2, and that the trust was of a donative nature within the meaning of the Restatement Second of Property: Donative Transfers. Matter of MacMackin Nominee Realty Trust, 122 N.E.3d 1, 6. CHAPTER 31. ACCOMPLISHING A DONATIVE TRANSFER IN DONOR'S LIFETIME WITHOUT USING A DOCUMENT OF TRANSFER § 31.1 Gift of Donor's Ownership in Personal Property Cal.App.2019. Com. (b) quot. in ftn. Trustee and beneficiary of decedent's irrevocable life-insurance trust filed a petition to recover the policy proceeds against named beneficiaries of the policy. The trial court sustained defendants' demurrer, finding that the trust was never funded with the policy, because insurer had rejected decedent's first beneficiary-designation form naming plaintiff due to certain errors, which were not corrected until decedent submitted a second form that named defendants instead of plaintiff. Reversing, this court held that the policy irrevocably became trust property upon decedent's execution of the trust document, given the irrevocable nature of the trust and its language demonstrating his intent to immediately transfer ownership of the policy to plaintiff. The court reasoned that the trust document met all of the necessary elements of a donative-transfer document, and that, under Restatement Second of Property: Donative Transfers § 31.1, decedent's delivery of the trust document to plaintiff with donative intent was sufficient to accomplish a transfer of the ownership of the policy. Dudek v. Dudek, 246 Cal.Rptr.3d 27, 36. COPYRIGHT 02020 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.