Virginia State Bar

An agency of the Supreme Court of Virginia

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Trusts and Estates

A Section of the Virginia State Bar.

Fall 2004 Newsletter

Newsletter - Trusts and Estates

Volume 20, No. 1

Letter from the Chair

The Board of Governors of the Trusts and Estates Section of the Virginia State Bar has called upon members of the bar to provide the following articles that Section members will find informative and useful in their practices. In this Fall 2004 newsletter, four attorneys have covered three very interesting subjects.

Kimberly Ann Murphy gives us all food for thought on the topic of fiduciary powers and duties and the pitfalls that can be faced by the fiduciary or counsel to the fiduciary. In particular, Kimberly gives the reader an overview of the case law that has developed in this area, including cases addressing the standard fiduciaries must meet in the execution of their duties. Kimberly's article will be helpful to any attorney trying to decide whether to initiate any litigation on behalf of an estate, including a suit for aid and direction.

Avram H. Zysman has provided an excellent overview of the new Virginia disclaimer statute. In his article, Avrarn
gives several examples of the types of interests which may be disclaimed. He also outlines the appropriate recipients of disclaimers under the new statute.

Finally, Peter A. Dingman and Elizabeth G. Engle share their experience with a case involving the attempted transfer of the same real estate to two separate trusts by a grantor. A careful review of the outcome of the case may provide a roadmap to language the attorney should consider including in his or her trust agreements. In addition, Peter and Elizabeth certainly provide a good argument for obtaining a title search or update prior to preparing any deed to transfer real property to a trust.

The Board of Governors thanks all four authors for their hard work. If you have any questions about this newsletter or the Trusts and Estates Section of the Virginia State Bar, please do not hesitate to call me or any other member of the Board of Governors. For your convenience, our names, mailing addresses and email addresses are listed at the end of this newsletter.

If you are reading this newsletter and are not a member of the Trust and Estates Section, please join us. It is as
simple as checking the Trusts and Estates Section box on your annual Virginia State Bar renewal form and paying
the minimal additional fee.

Amy G. Pesesky

Fall 2004 Newsletter (.pdf)