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  ALI-ABA Estate Planning Course Materials Journal
  Volume 16, Number 2, April 2010
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  • Planning And Drafting Premarital Agreements
        Stephanie B. Casteel
        p.5                                                                                          +cite        
        A premarital agreement is an agreement entered into by a couple before they are married, whereby they contractually agree on how their assets will be divided upon divorce or death of one party, spousal support or alimony in the event of divorce, and sometimes even economic responsibilities during the term of the marriage. This outline examines the history of premarital agreements, the basic provisions of the Uniform Premarital Agreement Act (UPAA), the standards of enforceability under state law, and the grounds on which a premarital agreement may be disregarded based on the terms of the premarital agreement and circumstances regarding execution.
  • Factors To Consider In Litigating Total Return Trust Cases
        William H. Forsyth, Jr., Charles A. Redd, Susan D. Snyder, and Lyman W. Welch
        p.33                                                                                        +cite        
        A "total return trust" is a trust that has two essential operational components: its assets are invested and managed by the trustee as a "prudent investor," in accordance with the Uniform Prudent Investor Act, with the objective of producing the best possible return without regard to whether the return is in the form of interest, dividends, rents, or royalties (ordinarily, trust accounting income) or capital gains (ordinarily, trust accounting principal), and its dispositive provisions enable its investment returns to be allocated and distributed between or among the income beneficiaries and the remainder beneficiaries in a manner that is impartial, based on what is fair and reasonable to all of the beneficiaries.
  • Does Diversification Require Sophisticated Assets?
        Suzanne L. Shier
        p.47                                                                                        +cite        
        Trustees have a duty to invest the funds of a trust as a prudent investor would, and, in making and implementing investment decisions, they generally have a duty to diversify the investments of the trust. Does such diversification require investment in "alternative investments," such as hedge funds, funds of funds, private equity, commodities, and real estate? This outline discusses alternative investments in trust accounts generally, focusing on hedge funds and private equity in particular.