“Recently, the Massachusetts Supreme Judicial Court held that a ‘Settlor’s irrevocable trust which he had established for his own sole lifetime benefit could be attached after his death to pay his debts for his pre-death offenses’. The grim and terrifying facts of De Prins v Michaeles will leave you with chills. Two neighbor couples in Arizona ended up in litigation over water rights. After one of the couples won the dispute, the wife of the other couple committed suicide. Shortly after, the surviving spouse created an irrevocable trust for his sole lifetime benefit, in which he placed most of his assets. What happened next is horrific …” (more)
[Gerry W Beyer, Wills, Trusts and Estates Prof Blog, 22 April]
First posted 2021-04-23 16:45:21
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