Fasano v. Digiacomo

2 Citing cases

  1. SETTLEMENT FUNDING v. AXA EQUITABLE LIFE INSURANCE CO

    06 CV 5743 (HB) (S.D.N.Y. Sep. 30, 2010)   Cited 6 times

    These strict requirements were imposed in 1997 in recognition that adherence to formality "reduces substantially the potential for foul play." Fasano v. DiGiacomo, 49 A.D.3d 683, 685 (2d Dept. 2008) (quoting Senate Introducer Mem. in Support, Bill Jacket, L. 1997, ch. 139, at 8). If the formalities are not observed, a valid trust is not formed, and subsequent transactions entered into by the invalid trust may be declared null and void.

  2. AEI Life LLC v. Lincoln Benefit Life Co.

    892 F.3d 126 (2d Cir. 2018)   Cited 75 times   2 Legal Analyses
    Holding that "under New York law, wagering insurance contracts entered for the benefit of parties that lack an insurable interest [i.e., STOLI policies] are simply voidable, not void ab initio"

    In general, if a trust is not properly formed, it cannot enter into a contract. See , e.g. , Fasano v. DiGiacomo , 49 A.D.3d 683, 685, 853 N.Y.S.2d 657, 659 (2d Dep’t 2008). Lincoln argues that the Trust was not compliant with New York law because Fischer’s signature establishing the Trust was a forgery.