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Fiduciary Duties And Exculpatory Clauses: Clash Of The Titans Or Cozy Bedfellows, Louise Lark Hill
Fiduciary Duties And Exculpatory Clauses: Clash Of The Titans Or Cozy Bedfellows, Louise Lark Hill
University of Michigan Journal of Law Reform
Centuries ago, when land represented the majority of wealth, the trust was used primarily for holding and transferring real property. As the dominant form of wealth moved away from family land, the trust evolved into a device for managing financial assets. With this transformation came the use of exculpatory clauses by both amateur and professional trustees, providing an avenue for these fiduciaries to escape liability for designated acts. With the use of exculpatory provisions, discussion abounded about whether fiduciary duties were mandatory or subject to modification. The latter view eventually prevailed, with the majority of jurisdictions viewing fiduciary duties as …
Reform That Understands Our Seniors: How Interdisciplinary Services Can Help Solve The Capacity Riddle In Elder Law, Thomas Richard Stasi
Reform That Understands Our Seniors: How Interdisciplinary Services Can Help Solve The Capacity Riddle In Elder Law, Thomas Richard Stasi
University of Michigan Journal of Law Reform
This Note suggests an interdisciplinary approach to assist in determinations of legal capacity. It also urges an amendment to the Model Rules and current law firm business models, so attorneys can better approach capacity challenges. While this Note does not presume to resolve the problems faced by capacity determinations, the purpose is to offer functional alternatives to the current working models. Part I reviews the Model Rules' treatment of capacity issues, detailing attorneys' conflicting ethical duties and the ambiguous methodology for capacity evaluations. Part II examines the customary processes that attorneys presently follow for seeking diagnostic evaluations and highlights their …