Aoki v. Aoki
Supreme Court of New York, Appellate Division
985 N.Y.S.2d 523 (2014)
Relevant factsFree
Trustees persuaded Rocky Aoki to sign irrevocable partial releases restricting his power to appoint Benihana Protective Trust assets, limiting appointment to descendants only, out of concern about his new wife Keiko's access; Rocky later tried to appoint substantial trust benefits to Keiko in his will and codicil, and after his death the trustees sought to validate the releases against Keiko's beneficiaries, while Devon and Steven Aoki (defendants) argued the releases barred those later appointments.
IssueFree
Whether an irrevocable partial release of an appointive power is effective if it was knowingly executed without indications of fraud.