Vincent M. Casiano, Esq.
Elder Lawyer, Estate Planner, Aggressive Litigator

“Because Life is Meant to be Enjoyed -
From One Generation to the Next.”

No-Charge Phone Consult
619-800-6820
Connect with us
  • Google Plus
  • LinkedIn

Estate Planning Newsletter

Constructive Trusts: Fraudulent Transfer of Property

A constructive trust is a remedy imposed by the court when a person has wrongfully attained property. The court basically takes the property away from the wrongful owner and puts it in trust for the rightful owner. In the estate planning/administration context, a constructive trust is usually imposed when there is wrongful conduct on the part of the trustee or beneficiary.

Types of Wrongful Conduct

Any wrongful activity that leads to the unfair acquisition of property may be cause for a constructive trust, including:

  • Fraud
  • Accident
  • Mistake
  • Undue influence
  • Violation of trust or fiduciary duty (for example, when a trustee purchases property in his own name rather than in the name of the beneficiary)
  • Homicide (for example, to obtain life insurance benefits)

Remedy Under Constructive Trusts

A constructive trust is imposed by a court as a result of a complaint by an affected party (typically a trustor or beneficiary of a trust). It may provide that the property pass from the wrongful owner to the rightful owner, or it may provide for the property to be held by a trustee for the rightful beneficiary.

However, if the unlawful owner has damaged or destroyed any of the trust property, the rightful owner is entitled to a money judgment for the value of the property.

  • Duties of a Trustee
    Every trust must have a trustee to properly administer the elements of the trust. Trustees can be individuals, financial institutions or even organizations. A trustee follows the precise instructions of the trustor (or the... Read more.
  • Deductibility of Property Donated to a Charitable Organization
    The U.S. government has long encouraged citizens to contribute to charity. One method of encouraging philanthropic giving is the allowance of deductions from income for federal tax purposes for donations to “qualified”... Read more.
  • Special Needs Trusts and the Disabled
    Some government statistics estimate that between 15% and 20% of all Americans have some form of disability. It is also estimated that the majority of disabled persons will need to avail themselves of public assistance to help pay the... Read more.
  • Special Use Valuation for Certain Estate Properties
    Calculation of the Value of Estate Assets Estate taxes are calculated based upon the value of the assets in the estate. One duty of the executor or administrator is to inventory all estate assets and assign a... Read more.
Estate Planning News Links
Share This Page:
Designed and Powered by NextClient

© 2015 - 2019 Vincent M. Casiano, Attorney at Law. All rights reserved.
Custom WebShop™ law firm website design by NextClient.com.

Contact Form Tab