Case Conclusion Date: 01.30.2012
Practice Area: Trusts
Outcome: Ruling for Plaintiffs/Beneficiaries
Description: In a case of first impression, the North Carolina Business Court interpreted important provisions of North Carolina’s Uniform Trust Code; N.C. Gen. Stat. § 36C-7-705 (holding that a trustee remains liable for his omissions and failures to act following an ineffective resignation), and N.C. Gen. Stat § 36C-7-707(a) (holding that a trustee’s duties remain in effect until trust corpus is actually delivered to a successor trustee).