Trust of Shire v. Unknown/Undiscovered Heirs
Nebraska Supreme Court
907 N.W.2d 263 (2018)
Relevant factsFree
The 1948 trust paid $500 monthly first to Shire's daughter, then her granddaughter (defendant), with remainder to distant heirs and charities; the trustee (plaintiff) sought to raise the granddaughter's payments to account for inflation, but only six of twelve known beneficiaries consented, and the court-appointed attorney representing unknown/undiscovered heirs objected, arguing the increase would necessarily shrink the remaining trust corpus available to them.
IssueFree
Whether all beneficiaries must consent to trust modifications that reduce beneficiaries' future interests.