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:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out ... family verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers ... would throw rocks at my other children and say he was going to kill them. ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas ... , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct ...
(Date:6/24/2016)... ... 2016 , ... People across the U.S. are sharpening their pencils and honing ... contest in which patients and their families pay tribute to a genetic counselor by ... Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , In ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® & Innovative Solutions ... initiated cultivation and processing operations at its production facility, and opened its first ... is the manufacturer of a complete system of proactive air and surface purification ...
(Date:6/24/2016)... ... 2016 , ... Venture Construction Group (VCG) sponsors Luke’s Wings ... at the Woodmont Country Club at 1201 Rockville Pike, Rockville, Maryland, 20852. The ... members that have been wounded in battle and their families. Venture Construction Group is ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016 Research and Markets has announced ... Analysis 2016 - Forecast to 2022" report to their ... contains up to date financial data derived from varied research ... trends with potential impact on the market during the next ... which comprises of sub markets, regional and country level analysis. ...
(Date:6/23/2016)... and INDIANAPOLIS , June 23, ... a Lilly Diabetes Tomorrow,s Leaders Scholarship is any indication, ... winners, announced today online at www.diabetesscholars.org by ... 1 diabetes stand in the way of academic and ... the Foundation,s scholarship program since 2012, and continues to ...
(Date:6/23/2016)... Research and Markets has announced the addition ... States, China, Japan, Brazil, United Kingdom, Germany, France, Italy, ... Surgical Procedure Volumes: Global ... surgical procedure volume data in a geographic context. The ... of growth drivers and inhibitors, including world population growth, ...
Breaking Medicine Technology: