Recourse at law or in equity of trust beneficiary who is dissatisfied with trustee’s proposed settlement with insurance company of property-damage claim
By EsqSocial Corporation 01/01/21
Assume entrusted property that has been duly insured by the trustee suffers damage through no fault of the trustee. A current beneficiary, though, is unhappy with the trustee’s proposed nonjudicial accommodation with the insurance company. The beneficiary requests that trustee assign its contractual rights against the insurance company to the beneficiary personally so that the beneficiary may take it upon himself to bring suit against the insurance company, with any recovery to be remitted to...
By: Charles E. Rounds, Jr.