In re the Trust f/b/o Samuel Francis duPont under Trust Agreement dated August 4, 1936, 2018 WL 4610766, 2018 Del. Ch. LEXIS 315 (Del. Ch. Sept. 25, 2018)

The donee of a power of appointment over a trust tried to bargain away his exercise of the power as part of a Nevada divorce settlement in 1962—although in later years he came to understand that he lacked the legal power to do so, and therefore exercised the power in a different manner under his 2015 will.  The would-be beneficiaries under his 1962 attempt to bargain away the power contended that the purported 1962 exercise should be upheld.  Connolly Gallagher lawyers successfully argued before the Delaware Court of Chancery that the purported 1962 exercise was invalid, and that only the exercise of the power under the donee’s 2015 will should be given effect.

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