Vigliani v. Bank of America
Vigliani v. Bank of America , 189 So.3d 214 (Fla.2d DCA 2016) This decision is an interesting one because it involves both a review of the uncertainty faced by practitioners in 2009 regarding the future of the estate tax exemption, and somewhat strange language in a trust meant to deal with that uncertainty. Here, the trial court was asked to consider whether a decedent's revocable trust required a Family Trust to be funded with $3.5 million (the exemption amount in 2009), $5 million (the exemption amount in 2010), or some other amount. The trustees filed for declaratory relief to obtain a judicial determination of this issue, and the trial court held that the Family Trust should be funded with $3.5 million. The Appellate Court disagreed with the trial court's analysis. First, it felt that the actual division and funding of the trusts were the responsibility of the trustee of the trust under the terms of the trust and F.S. § 736.0801. The Court also went ...