ABA Probate & Property: “Benefit of the Beneficiary Rule”

Mary P. O’Reilly, co-chair of Meltzer Lippe’s Trust & Estates practice group, co-authors this article with Lee-ford Tritt.

The Benefit-of-the-Beneficiary Rule narrowly defines “benefit” to mean wealth maximization. This wealth maximization theory, combined with modern portfolio theory endorsed by the drafters of the rule, discounts other reasons why clients create trusts.

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