Navigation Links
Pozzuolo Rodden, PC, Philadelphia Estate Planning Attorneys, Released the Question of the Month in The September 2013 Newsletter Relating to Corporate Trustees
Date:9/20/2013

(PRWEB) September 20, 2013

Pozzuolo Rodden P.C., Philadelphia Estate Planning Lawyers, announces the question of the month: "How can a beneficiary remove a corporate trustee in favor of a different trustee if the beneficiary is not satisfied with the current corporate trustee’s services"? Below is a sample of the first couple of paragraphs. If you would like to read more, please read the full article and other business law, or estate planning topics at http://www.pozzuolo.com

First, he should check the trust document to determine if there is a “portability” clause which allows removal of the corporate trustee and appointment of a successor trustee, thereby making the trust “portable” from one corporate trustee to another. If the document has one, then he follows the document’s provisions. If the trust document does not contain a portability clause or the relevant portability clause is inadequate to effect removal, the beneficiary may have to petition a court to remove the corporate trustee.

Fortunately, in Pennsylvania, a corporate trustee may be removed from its office despite the trust document’s lack of a portability clause. Section 7766 of the Pennsylvania Probate, Estates and Fiduciaries Code permits removal of a trustee. Specifically, section 7766 permits removal where there has been “fault” on the part of the trustee such as, for example, when the trustee has committed a serious breach of trust. Section 7766 also allows removal in “no fault” situations. Whether a trustee may be removed where there is no fault is not as clear cut. However, in a recent case, In re McKinney, 2013 Pa. Super. 123 (Pa. Super., May 21, 2013), the Superior Court of Pennsylvania addressed trustee removal and, applying the no fault removal provision, effected removal of the corporate trustee pursuant to the beneficiaries’ request.......

If you would like to read more, please click here.

Contact our Philadelphia Business & Estate Planning law firm with your questions, comments or concerns.

Pozzuolo Rodden, P.C. Counselors at Law is located in Philadelphia, PA & Cherry Hill, NJ and serves clients throughout Bucks, Chester, Delaware and Montgomery counties in Pennsylvania and Camden, Burlington, and Gloucester counties in Southern New Jersey.

Pozzuolo Rodden, P.C.
Counselors at Law
2033 Walnut Street
Philadelphia, PA 19103
215-977-8200
http://www.pozzuolo.com

Read the full story at http://www.prweb.com/releases/2013/9/prweb11138171.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. The Law Firm of Pozzuolo Rodden, PC, Philadelphia Business Attorneys, Released the Article: "ObamaCare-The Mandates and Penalties Facing Privately Held Businesses"
2. Pozzuolo Rodden, PC, Philadelphia Estate Planning Attorneys, Are Pleased to Announce the Release of the Article "Hot Topics in Estate Planning- 2013"
3. Joseph Pozzuolo and Jeff Pozzuolo, Estate Planning Attys. Will Conduct a Penn State CLE/CPE: The Basics Of Estate Tax Planning After The 2012 American Taxpayer Relief Act
4. Joseph R. Pozzuolo, Esq of Pozzuolo Rodden, Phila Business Attys. will Conduct a CLE/CPE Live/Webcast Commercial Loan Document Seminar for LawLine on May 15, 2013 in NY
5. Pozzuolo Rodden, P.C., Philadelphia Business Attorneys, Announce the Release of the Article: " Can I Sell The Stock Of My Small Business And Pay Zero Federal Taxes?"
6. Pozzuolo Rodden PC, Philadelphia Estate Planning Attorneys, Announce the Release of the Article "How To Use A Trust To Protect Your Children's Inheritance From Divorce"
7. Pozzuolo Rodden, P.C., Philadelphia Business Planning Attorneys, Announce the Release of "IRS Reaffirms Its Commitment To Expand The Audits Of High Net Worth Individuals"
8. September Air Dates Offered for Philadelphia, PA by Net Worth Commerce TV
9. New Mobile App from The Children’s Hospital of Philadelphia Assists Parents, Doctors with Vaccine Decisions
10. JMS Enterprises Wins Angie's List Super Award in Philadelphia
11. Rich Dad Education to Hold 3-Day Financial Workshop in Philadelphia on Aug. 23-25
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... Lebanon, Oregon (PRWEB) , ... February 11, 2016 ... ... Oregon campus participated in the American Osteopathic Association’s (AOA) Match Program Tuesday, February ... The Match Program places students into osteopathic graduate medical education positions across the ...
(Date:2/11/2016)... (PRWEB) , ... February 11, 2016 , ... Image ... business to a new market, and it’s the buildings of Nashville that will benefit. ... when I needed to relocate to Nashville, there was no question that I would ...
(Date:2/11/2016)... ... February 11, 2016 , ... Thermi™, ... health, is pleased to announce the promotions of Allison Kelly to executive vice ... Catone to executive vice president of North American capital sales, and Wendy Oseas ...
(Date:2/11/2016)... , ... February 11, 2016 , ... ... motivational speaker, trainer and author Ray Clarke poses a question as a challenge ... . In his book, "Being in the Being" (published by Partridge Singapore), Clarke ...
(Date:2/11/2016)... ... February 11, 2016 , ... AccuVein Inc. announces ... Therapy Standards of Practice, to include vascular visualization as a standard practice. AccuVein ... share of the market, facilitates adherence to this standard with its easy to ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... , February 11, 2016 F ... answers at the ... a world-leading provider of scientific, technical and medical information products and services, ... to evidence-based, peer reviewed clinical information via a mobile device. Elsevier designed ... ClinicalKey for Nursing. The new app is available in Android ...
(Date:2/11/2016)... spurred by a major "team investment" by Bruce Montgomery , one of this area,s most ... to CEO Leen Kawas , PhD. Photo ... ... ... Kawas said the round was intended to be ...
(Date:2/11/2016)... 2016  AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX ) ... at the 38th annual John A. Boswick , ... is being held February 14-18, 2016 in ... advancements in wound healing, burn care, and infection control, ... Zealand Burns Association, Academy of Physicians in Wound Care ...
Breaking Medicine Technology: