Trust directs Trustee to pay income to Aunt Lila for life, then distribute principal to Settlor's grandchildren. Trustee is Settlor's friend. For six years, Trustee sent Lila checks but provided no accountings to Lila or...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 813, 1001, and 1005
Trust provides: "Pay income to my spouse, Rosa, for life. Trustee may distribute principal to Rosa as needed for health and support. At Rosa's death, distribute remaining principal to my children, Ben and Callie." Truste...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 803, 814, 1001, and 1002
Galen transferred $400,000 to City Bank "as trustee to invest and distribute income equally to my children, Lina and Omar, for 10 years, then distribute principal equally to them." City Bank signed a receipt but later de...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 402 and 704
Trust requires Trustee to maintain a family farm unless all adult beneficiaries consent to a sale. The trust also states, "Trustee shall not be liable for mistakes in judgment made in good faith." Without seeking consent...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 801, 1001, 1002, and 1008
...use, Mira, for life, remainder to Settlor's children, Noah and Priya. Trustee, who is Settlor's cousin, owned 40 percent of a struggling real estate company. Without telling any beneficiary about her ownership, Trustee c...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 802, 1001, and 1002
...principal to Felix's children at his death. The trust instrument gave Trustee "broad investment discretion" but did not waive fiduciary duties. At funding, 85 percent of the trust consisted of stock in one publicly trade...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 804, 807, 1001, and 1002, Uniform Prudent Investor Act principles
...t stated, "Any amendment must be in a signed writing delivered to the trustee." Leah was the initial trustee. She retitled her condo and investment account into the trust. She also executed a valid pour-over will leaving...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Probate Code pour-over and nonprobate-transfer principles, Uniform Trust Code revocable trust principles
Owen's will left $600,000 to Trustee. The will directed Trustee to use $250,000 "for my true friends who stood by me, in whatever amounts Trustee thinks fair"; $250,000 "to fund scholarships for graduates of County High...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 402, 405, and 408
...esignations, and federal preemption. NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Pro...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Probate Code revocation-on-divorce principles, ERISA beneficiary-designation principles
...penses." Tom deposited the check into a separate account titled "Tom, trustee for Ezra." Rina did not sign any writing about the $90,000. At the same meeting, Rina also said, "I want you to hold my vacant lot for Ezra on...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 401, 402, and 407
...attempted alteration or revocation. NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Probate Code section 2-503
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Probate Code section 2-503
...ts, and lifetime beneficiary rights. NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Real Property Transfer...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Real Property Transfer on Death Act principles, Uniform Probate Code nonprobate-transfer principles
...my brokerage account ending in 4412 and my lake cabin on Pine Road as trustee. During my life, income may be used for me. At my death, the remaining property shall be distributed equally to my nieces, Maya and Tessa. I s...
Citations: NCBE MEE Subject Matter Outline, Trusts and Estates, Uniform Trust Code sections 401 and 402
...m. The sale agreement stated that the new firm "assumes all remaining duties under the museum contract." The architect told the museum that the new firm would finish the work. The museum objected to the new firm designin...
Citations: Restatement (Second) of Contracts 318, Restatement (Second) of Contracts 328, NCBE NextGen UBE Content Scope, Contracts
USABarPrep Coach