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Monthly Archives: October 2014

Oral Trusts

An express trust is one in which the settlor/grantor (i.e., the trust creator) purposefully creates a trust. It can only come into existence by the manifestation of an intention to create the trust agreement and relationship.¬†Warsick v. De Mayo, 213 S.W.2d 392, 395 (Mo. 1948); Section 456.4-402, RSMo (“a trust is created only if…the settor […]

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Trustees: Collection, Control and Protection of Trust Property

One of a trustee’s most important fiduciary obligations is to collect, inventory, take control of and protect all property belonging to the trust. To that end, Section 456.8-809, RSMo requires that a trustee take control of and protect trust property, with the exception that a trustee is not responsible for personal property that is a […]

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Trustee Fiduciary Duties: Prudence, Impartiality, Loyalty

A trustee — whether appointed privately or by a court — is a fiduciary of the highest order and is required to exercise a high standard of conduct and loyalty in administration of a trust.¬†John r. Boyce Family Trust v. Snyder, 128 S.W.3d 630, 636 (Mo. Ct. App. 2004). Although the trustee has many duties […]

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Non-Solicitation Restrictions

Non-solicitation clauses are different than non-compete and confidentiality agreements. In short, non-solicitation agreements usually prohibit an agent/employee from contacting customers post employment/work. From experience, Courts are more willing to uphold the validity of non-solicitation clauses, but — like with non-compete and confidentiality provisions — they will only be honored if they are necessary to protect […]

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Real Estate Deed Interpretation

A deed is a legal document which conveys an interest in real estate. The essential elements of a deed are (1) names of the parties, (2) words of grant, (3) description of the real estate, (4) execution and delivery by the grantor (the person conveying the interest in the real estate) and (5) acceptance by […]

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Duty to Defend: Insurance Contracts/Policies & Indemnification

Under Missouri law, insurance companies generally have two (2) responsibilities under an insurance policy: (1) a duty to defend and a (2) duty to indemnify. With the duty to defend, that means that an insurance company must hire legal counsel to defend the insured in a legal proceeding. With the duty to indemnify, that means […]

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Interpleader

In rare circumstances, you can be brought into court without being a traditional plaintiff or defendant. With an interpleader action, a third party may cause litigation to be initiated between two (2) or more claimants to resolve a dispute. There are two (2) basic substantive requirements for a party to initiate an interpleader: (1) that […]

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