Trusts & Estates/Private Client

Zach Haupt and Todd Flubacher will speak on plenary sessions.

Reece Barker, Sean Meyer, and Jake Rauchberg join the firm following recent judicial clerkships.

Todd Flubacher co-presents the September 21 morning session on distribution requests.

The Best Lawyers in America has released its 2025 edition listing 39 attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 160,000 eligible attorneys.

Morris Nichols attorneys Matthew Clark, Todd Flubacher, and J. Zachary Haupt are distinguished as leaders in their field.

Zachary Haupt will speak on the session, “A Trustee's Jambalayas: Savor the Full Flavor of Trending State Trust Laws.”

Todd Flubacher joins Newton One as part of their podcast series, Newton Knowledge, to discuss Delaware trust law issues, including the emergence of silent trusts and Todd’s recent work with beneficiary well-being.

Zach Haupt recently spoke with CityWealth about the popularity of Delaware for private clients, “through a trust lens.”

Todd Flubacher has been conferred as part of the Class of 2023 by the National Association of Estate Planners and Councils (NAEPC). 

The 2024 edition of Best Law Firms® ranks Morris Nichols in 20 Delaware practice areas.

Matt Clark will speak on the panel session “Electronic Execution of Estate Planning Documents.”

Todd Flubacher will co-present the session, “Trust Termination Best Practices.”

The Best Lawyers in America has released its 2024 edition, listing 39 attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 76,000 eligible attorneys.

Morris Nichols has again been ranked by Chambers High Net Worth 2023 in Band 1 for Private Wealth Law in Delaware.

Todd Flubacher will speak on the panel, “Releasing the Dead Hand: Helping families embrace transparency.”

Todd Flubacher will speak on the panel, “Upside Down with a Perfect View: Practical Considerations in Establishing a Long Term Trust” at the 57th Annual Heckerling Institute.

Morris Nichols attorneys Zach Haupt and Anthony Raucci have been promoted to special counsel effective January 1, 2023.

Ten Morris Nichols lawyers have been admitted to the Delaware bar today.

Morris Nichols was selected for inclusion in a range of Delaware business law categories including corporate law and transactions; bankruptcy and reorganizations; and M&A, IP and patent litigation.

Tom Pulsifer has been named the first ever recipient of the Delaware Trust and Wealth Management Lifetime Achievement Award.

Morris Nichols is a gold sponsor of the seventeenth annual Delaware Trust Conference from October 18 to 19, 2022 in Wilmington, Delaware.

The Best Lawyers in America has released its 2023 edition, listing 35 attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 71,000 eligible attorneys.

Chambers High Net Worth 2022 again ranked Morris, Nichols, Arsht & Tunnell LLP in Band 1 for Private Wealth Law in Delaware.

Todd Flubacher will present “Directed Trusts in Today’s Fiduciary World.”

Todd Flubacher will speak on the panel, “Just Because You Can, Doesn’t Mean You Should.”

Todd Flubacher will speak on directed trusts.

The 2022 edition of U.S. News - Best Lawyers “Best Law Firms” ranks Delaware law firm Morris Nichols in 25 areas.

The Best Lawyers in America has released its 2022 edition, listing thirty-two attorneys from Morris Nichols. The results are based on peer-review evaluations from more than 66,000 eligible attorneys.

The 2021 edition of Chambers High Net Worth has again ranked Morris Nichols in Band 1 for Private Wealth Law in Delaware.

Morris Nichols partner Todd Flubacher will serve as a panelist in the webinar, “Let’s Be Clear! Drafting To Minimize Litigation and Disputes” hosted by The American College of Trust and Estate Counsel (ACTEC) on Thursday, June 17, 2021 from 3:15 p.m. to 5:15 p.m. EST.

Morris Nichols partner Todd Flubacher will co-present with Cynthia D.M. Brown of Commonwealth Trust Company in the first session on "Discretionary Decision-Making."

Morris Nichols was selected for inclusion in a range of Delaware business law areas, listed below, as well as a national tier for “Litigation – Mergers & Acquisitions.” The rankings are based on a combination of client feedback, survey responses, and peer review.

Thirty-one Morris Nichols attorneys were recognized in the 2021 edition of The Best Lawyers in America. The results are based on peer-review evaluations from more than 67,000 eligible attorneys.

Chambers High Net Worth 2020 ranked Morris, Nichols, Arsht & Tunnell LLP in Band 1 for Private Wealth Law in Delaware.

Wilmington, DE (November 1, 2019) - Morris, Nichols, Arsht & Tunnell LLP has been ranked in twenty-five practice areas in the 2020 edition of U.S. News - Best Lawyers “Best Law Firms.”

Wilmington, DE (September 2, 2019) - Law360 released its list of 2019 Regional Powerhouses, identifying Morris, Nichols, Arsht & Tunnell LLP among the top Delaware law firms.

Wilmington, DE (August 15, 2019) - Thirty-five Morris Nichols attorneys were selected for inclusion in the 2020 edition of The Best Lawyers in America. The results are based on peer-review evaluations from more than 94,000 eligible attorneys.

Wilmington, DE (July 12, 2019) - Today, Chambers High Net Worth 2019 again ranked Morris, Nichols, Arsht & Tunnell LLP in Band 1 for Private Wealth Law in Delaware.

Wilmington, DE (June 19, 2019) -Morris, Nichols, Arsht & Tunnell LLP associate J. Zachary Haupt has been accepted into the inaugural class of the Mid-Atlantic Fellows Institute of the American College of Trust and Estate Counsel (ACTEC).

Wilmington, DE (November 1, 2018) - Morris, Nichols, Arsht & Tunnell LLP has been recognized in twenty-four practice areas in the 2019 edition of U.S. News - Best Lawyers “Best Law Firms.” 

Wilmington, DE (September 4, 2018) - Law360 released its list of 2018 Regional Powerhouses, recognizing Morris, Nichols, Arsht & Tunnell LLP among the top Delaware law firms.

Wilmington, DE (August 15, 2018) - Thirty-three attorneys from Morris, Nichols, Arsht & Tunnell LLP were selected for inclusion in the 2019 edition of The Best Lawyers in America.  The results are based on peer-review evaluations from more than 87,000 eligible attorneys.

Wilmington, DE (July 20, 2018) - In its 2018 guide, Chambers High Net Worth ranked Morris, Nichols, Arsht & Tunnell LLP in the highest tier for Private Wealth Law in Delaware. Sources report the Trusts, Estates & Tax team is “extremely high-quality” with “good strength and depth.” A market insider enthuses, “We go to them all the time as my colleagues and I think they are amazing. They are our first point of reference.”

Wilmington, DE (November 1, 2017) - Morris, Nichols, Arsht & Tunnell LLP has been recognized in twenty practice areas in the 2018 edition of U.S. News - Best Lawyers "Best Law Firms." In the 2018 rankings, the firm was once again selected for inclusion in the national category for “Litigation - Mergers & Acquisitions” as well as a diverse array of Delaware practice categories. 

Wilmington, DE (September 15, 2017) - Released today, Chambers High Net Worth 2017 again ranks Morris, Nichols, Arsht & Tunnell LLP in Band 1 for Private Wealth Law in Delaware.  “They are extraordinary” says one market source.  “They are knowledgeable, practical, results-oriented and very responsive” praises another.

Wilmington, DE (August 15, 2017) - Thirty-two attorneys from Morris, Nichols, Arsht & Tunnell LLP were selected for inclusion in the 2018 edition of The Best Lawyers in America.  The results are based on peer-review evaluations from more than 83,000 eligible attorneys.

Morris Nichols partner Todd Flubacher recently spoke with The Financial Times in an article titled, “Why Directed Trusts Can Be Effective in Asset Management.”  In his Delaware trust law practice, Todd finds the “overwhelming majority” of his cases involve directed trusts.

Wilmington, DE (November 1, 2016) - U.S. News - Best Lawyers® has once again ranked Morris, Nichols, Arsht & Tunnell LLP in its annual guide of the “Best Law Firms.” In the 2017 edition, the firm was selected for inclusion in the national category for “Litigation - Mergers & Acquisitions” as well as a diverse array of Delaware practice categories related to bankruptcy, corporate, intellectual property, and trust law.

Wilmington, DE (August 15, 2016) - Thirty attorneys from Morris, Nichols, Arsht & Tunnell LLP were selected for inclusion in the 2017 edition of The Best Lawyers in America®.  The results are based on peer-review evaluations from more than 79,000 eligible attorneys.

Wilmington, DE (June 24, 2016) - Today, the inaugural edition of Chambers High Net Worth ranked Morris, Nichols, Arsht & Tunnell LLP as a Band 1 law firm in the Delaware category for Private Wealth Law.  Chambers HNW market sources touted the firm’s “very fine reputation as a leading Delaware firm,” with one commenter regarding the Morris Nichols Trusts, Estates & Tax team as “true experts” on Delaware trust law.

Wilmington, DE (May 23, 2016) - Morris, Nichols, Arsht & Tunnell LLP is pleased to welcome J. Zachary Haupt to the Trusts, Estates & Tax Group. With six years of experience practicing law in Delaware, he recently earned his LL.M. in Taxation from Georgetown University Law Center. Before entering private law practice, he was an accountant at a large multi-national facility management company.

Wilmington, DE (November 2, 2015) - U.S. News - Best Lawyers® has once again ranked Morris, Nichols, Arsht & Tunnell LLP in its annual guide of the “Best Law Firms.” In the 2016 edition, the firm was selected for inclusion in a diverse array of bankruptcy, corporate, intellectual property, and trust law practice areas in Delaware.

Morris Nichols’ Delaware Trust Law Companion is an invaluable resource for professionals whose practice involves Delaware trusts.

Trust Act 2024 includes amendments to Section 3301 of Title 12 to define the term, “letter of wishes”, addition of a new “Beneficiary Well-Being Trust” statute as Section 3345 to Title 12 which expressly allows trustors to opt-in to the creation of a so-called Beneficiary Well-Being Trust and more.

Todd Flubacher recently co-authored the third part of a series providing practical resources for planners to assist clients in exploring how trusts can be structured, aligning with clients’ family goals.

Todd Flubacher recently co-authored the second part of a series examining the drawbacks of trustor's dead hand control in trust planning.

Todd Flubacher recently co-authored an article on the importance of starting trust planning from the perspective of the rising generation.

Trust Act 2023 includes amendments to Delaware’s “APT Act” and statutes concerning spendthrift, disposition of marital property, change of situs, place of administration, designated representatives, and PPLI premiums.

The Corporate Transparency Act (the “CTA”) was passed in Fiscal Year 2021. Starting January 1, 2024, reporting companies will have disclosure obligations. Members of the trust industry and their advisors will be monitoring developments closely for additional guidance regarding CTA application in unique circumstances.

Delaware Governor John C. Carney signed House Bill 406 (“Trust Act 2022”) into law.

The attorney-client privilege is a long-recognized legal principal that, in general terms, serves to protect confidential communications between an attorney and his or her client from disclosure.

On June 30, 2021, Delaware Governor John C. Carney signed House Bill 164 (“Trust Act 2021”) into law.

When implementing a plan involving the transfer of assets to more than one trust with overlapping donors and beneficiaries, prospective donors and their advisers should be mindful of the possible application, and implications, of the so-called “reciprocal trust doctrine.”

Delaware Governor John C. Carney has signed House Bill 334 into law (“Trust Act 2020”), which further improves upon Delaware trust law. 

One of the many significant developments in the field of trust lawover the past decade has been the increasing popularity of so called “silent trusts”. The term “silent trust” generally describes an arrangement in which a trustee is prohibited under the terms of a governing instrument from providing information to the trust’s beneficiaries, or where the trustee is relieved from its common law duty to provide information to beneficiaries, so that information is only shared when it’s deemed appropriate.

Morris Nichols attorneys Todd Flubacher and J. Zachary Haupt authored three guides on Delaware law for Practical Law. Their Delaware Estate Tax Q&A guide addresses whether a jurisdiction has any estate tax or other similar taxes imposed at death and, for jurisdictions currently imposing a state estate tax.

As we collectively respond to the Coronavirus (COVID-19) outbreak in our country, many have turned their attention to completing estate planning documents. Because clients, especially seniors, are socially-isolated and unable to obtain witnesses and notarization of signatures, we have been fielding numerous questions about the legal requirements for validly executing Delaware trust agreements.

In June, Delaware enacted its latest installment of annual trust legislation. Trust Act 2019 includes many revisions and clarifications, but two new statutes, Sections 3343 and 3344 of Title 12 of the Delaware Code, represent material advancements in the law.

Delaware Governor John C. Carney has signed House Bill 72 into law (“Trust Act 2019”).  The legislation further improves and modernizes Delaware trust law.

The U.S. Supreme Court will soon render a decision that could have a significant impact on the manner in which some states tax income accumulated in nongrantor trusts.

In recent years, many states have enacted pre-mortem validation statutes enabling testators or settlors to take proactive steps to avoid will or trust contests.

Over the last decade, trust law has evolved so the role of trustee can better reflect the open architecture that modern families desire. It’s now commonplace for trust settlors to design so-called “directed trusts,” and existing trusts are frequently transferred to new jurisdictions to be modified through the use of techniques such as decanting, non-judicial settlements agreements, consent modifications, court orders and trust mergers so they can become directed trusts.

Recently enacted legislation (“Trust Act 2018”) provides settlors, beneficiaries, fiduciaries and nonfiduciary powerholders with an even greater ability to accomplish their objectives using Delaware trusts.

On August 30, 2017, Delaware Governor John Carney signed House Bill 169 into law (“Trust Act 2017”), which provides settlors, beneficiaries and fiduciaries of Delaware trusts with more tools and greater flexibility to confidently accomplish their various objectives.

On June 21, 2017, the Delaware Supreme Court affirmed a landmark decision by the Delaware Court of Chancery (the “Court”) that found an “adviser,” within the meaning of 12 Del. C. § 3313, liable for breach of his fiduciary duties.  This decision is especially noteworthy because it provides significant insight into the Court’s views with respect to the willful misconduct and bad faith standards of liability as well as the application of virtual representation principles to the statute of limitations defense.  While we previously summarized the Court’s substantive analysis of these issues when the Master’s Draft Report was issued in 2014, and again when the Master’s Final Report was issued in 2015, the long and somewhat complicated history of this case and the weight of its importance warrant additional presentation of its analysis.

On July 2, 2017, Delaware Governor John Carney signed into law House Bill No. 16, as amended, repealing Delaware’s estate tax for decedents who die after December 31, 2017.  The repeal of Delaware’s estate tax will provide a substantial benefit to not only Delaware residents with taxable estates but also the estates of many nonresidents who die owning real or tangible personal property located within Delaware.

The Delaware Supreme Court decided a case this week that is of great importance to Delaware trust law involving the enforceability of a spendthrift provision and the protection of trust assets against the claims of a beneficiary’s creditors relating to breaches of fiduciary duties by the beneficiary which arose in a separate but related action.  This opinion is notable because it is a strong confirmation of the protections available to beneficiaries of third-party spendthrift trusts in Delaware under Section 3536 of Title 12 of the Delaware Code (“Section 3536”).  Importantly, the Delaware Supreme Court has affirmed the narrow application of the Garretson case and, in doing so, we are provided with helpful analysis as to the rationale of the holding in Garretson and related cases.  The Court refused to create a public policy exception to Section 3536 for a tort claimant who was a family member of the plaintiffs and who allegedly persistently engaged in a course of conduct that breached his fiduciary duties resulting in millions of dollars of damages for plaintiffs.  This opinion will likely have importance around the country considering the paucity of case law on the subject and the relevance of the Delaware Supreme Court.  While we previously summarized the substantive analysis of this case when the Draft Master’s Report of the Delaware Court of Chancery was issued in 2014, the long history of this case and the weight of its importance warrants additional presentation of its analysis.  The procedural history of this case is somewhat long and complicated, but is also notable for its exemplary judicial process and expediency.

PLR 20146014 addressed all of the rulings relevant to the tax structure of a so-called DING trust, except that there is one major factual difference upon which the IRS ruled.

Delaware’s House and Senate have recently passed a change to Delaware’s PPLI premium tax that makes Delaware much more competitive with other jurisdictions that have historically attracted virtually all of the PPLI trust planning business.

Proper drafting and administration can reduce doubt about who’s responsible for a particular matter.

Two Master’s Final Reports were issued in Mennen v. Wilmington Trust Company on April 24, 2015.

The Delaware Supreme Court issued an order affirming a bench ruling and letter opinion of the Court of Chancery precluding an action to contest the validity of a trust under Delaware’s pre-mortem validation statute, 12 Del. C. § 3546.

The Delaware Supreme Court recently issued an order denying an interlocutory appeal of the opinion of Delaware Court of Chancery (the “Chancery Court”) in IMO Daniel Kloiber Trust U/A/D December 20, 2012 (“Kloiber”).

Master LeGrow of the Delaware Court of Chancery (the “Court”) issued a draft report (the “Draft Report”) granting a defendant’s motion for summary judgment upholding the enforceability of a spendthrift clause under Delaware’s spendthrift statute, Section 3536 of Title 12 of the Delaware Code (“Section 3536”). The Draft Report is notable because it is a strong confirmation of the protections available to beneficiaries of third-party spendthrift trusts under Section 3536 and the Court refused to create a public policy exception to Section 3536 for a tort claimant who was a family member of the plaintiffs and who allegedly persistently engaged in a course of conduct that breached his fiduciary duties resulting in millions of dollars of damages for plaintiffs.

The country’s leading trust jurisdictions have been experiencing enormous growth in recent years from two sources: the creation of new trusts and the migration of existing trusts to take advantage of more favorable administrative laws.  It’s become commonplace to optimize planning through careful jurisdiction selection, migrating an existing trust to an advantageous jurisdiction and modifying the trust to capitalize on the new administrative laws, including converting it to a directed trust to accomplish specific objectives.

Trusts, Estates & Tax Group partner Todd Flubacher authored “Trust Merger: What’s Good for the Goose Is Good for the Gander” featured in the Spring 2013 edition of Delaware Banker.

Morris Nichols partner Todd Flubacher authored “Don’t Tread On Me: How Delaware Courts Review Trustee Discretion” featured in the January 2012 edition of Delaware Banker Magazine. The article examines recent Delaware case law and a hidden gem found in Delaware’s trust statutes that answers the question, “What is the risk that an interested party will sue a trustee whenever they take discretionary action?”

UPDATES for 2011- How to take advantage of Delaware’s directed trusts statute and other attractive Delaware statutes, Delaware creditor protections, Delaware dynasty trusts, Delaware Chancery Court supervision, and considerations when changing a trust situs to Delaware.

J. Zachary Haupt, “If You’re Incorporated in Delaware, You Can Be Sued in Delaware, Federal Judge Says,” Del. Bus. Ct. Insider (June 29, 2011)

Morris Nichols' Todd Flubacher and PNC Wealth Management vice president Ann Marie Levin authored Put Decanting to Work to Give Breath to Trust Purpose featured in the January 2011 edition of Estate Planning Magazine that examines one of the most significant advancements in modern personal trust law: the enactment of state decanting statutes that specially authorize trustees to effectively amend the provisions of irrevocable trusts...

Trusts, Estates & Tax Group partner Todd Flubacher authored ”The Trustee’s Role in Directed Trusts” featured in the December 2010 edition of Trusts & Estates Magazine.  David A. Diamond, head of J.P. Morgan Trust Company of Delaware, co-authored.

Todd Flubacher, ACTEC Fellow and partner in Morris Nichols’ Trusts, Estates and Tax Group and associate Randy Herndon authored Delaware Asset Protection Trusts and Creditors’ Rights featured in the September 2010 edition of Estate Planning Magazine that answers the question:  How is a settlor who creates a trust in which he or she retains the right to receive distributions better off creating the trust as a Delaware asset protection trust (DAPT) than as a trust in another jurisdiction that does not provide creditor protection to a settlor?

Trusts, Estates & Tax Group and Commercial Law Counseling Group partner Todd Flubacher authored Planning to Avoid Pitfalls - Asset Protection Trusts Thirteen Years After Enactment featured in the Winter 2010 edition of Delaware Banker magazine.

Thomas Pulsifer and Todd Flubacher discuss changes and developments in Delaware trust law at a Christiana Bank & Trust roundtable moderated by Worth Magazine.

Many advisors are not aware that their clients might use Delaware trusts for state income tax planning.  Delaware law can enable individuals residing in many states to use Delaware to minimize or even avoid state income taxes.  That's because there is no Delaware income tax on Delaware trusts.

Todd A. Flubacher, Thomas R. Pulsifer, “Minimizing Income Taxation of Trust Income: The Delaware Advantage,” 108 Probate and Trust Law Section Newsletter 8, Philadelphia Bar Association Probate and Trust Law Section (Winter 2003-04)

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