The last half of the calendar year, 2001, saw significant activity at the appellate level affecting the area of trusts and estates. Within the past six months, the Third and Fourth Departments have addressed a fiduciary’s duty to diversify, the validity of a conveyance of real property and standing to challenge the administration of a trust. The First Department issued a strongly worded decision supporting the enforcement of settlement agreements, and the Second Department passed upon the effect of a renunciation on recovery in a wrongful death action. Last, but certainly not least, the Court of Appeals took the opportunity to hear and determine a matter regarding inheritance rights and forfeiture.
Review of these decisions provide valuable instruction to trusts and estates practitioners.
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