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Challenge to Income and Principal of Will and Trust as Assets of Bankruptcy Estate

Trusts and Estates Clients of the Firm

In re Britton, 300 B.R. 155 (Bankr. D. Conn. 2003).  A legal team composed of attorneys from the Bankruptcy and Trusts and Estates practices successfully represented long standing Trusts and Estate client by successfully challenging the Chapter 7 Trustee's attempt to include the income and principal of several Spendthrift Trusts into the bankruptcy estate of a contingent remainder beneficiary.  The Court held that a trust that gave the trustees sole discretion to make periodic distributions of income and/or principal in such amounts as they deemed advisable for the support, maintenance and/or education of the beneficiaries (our client) was a valid Spendthrift Trust under Connecticut Law and therefore not property of the Debtor's estate.

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