Fasano v. Digiacomo

4 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. In reWill of D'Elia

    40 Misc. 3d 355 (N.Y. Surr. Ct. 2013)   Cited 2 times

    To show the existence of a trust at that time, the trustee was not required to sign the trust agreement. With the enactment of EPTL 7–1.17 in 1997, however, certain formal requirements were imposed for the creation, amendment and revocation of lifetime trusts ( Matter of Fasano, 49 A.D.3d 683, 853 N.Y.S.2d 657 [2d Dept. 2008], lv. denied11 N.Y.3d 710, 868 N.Y.S.2d 602, 897 N.E.2d 1086 [2008] ). The court in Fasano noted that:

  3. 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.

  4. Geltzer v. Balgobin (In re Balgobin)

    490 B.R. 13 (Bankr. E.D.N.Y. 2013)   Cited 8 times
    Reviewing constructive trust cases within the Second Circuit and elsewhere

    The New York legislature established formal requirements for lifetime trusts in 1997, including that a lifetime trust in personal property be in writing. See Fasano v. DiGiacomo, 49 A.D.3d 683, 853 N.Y.S.2d 657, 659 (2d Dep't 2008) ( citing Practice Commentaries to EPTL 7–1.17); see alsoRestatement (Third) of Trusts § 20 (2003). In affidavits submitted in support of the motion to impose a constructive trust, the Debtor and Defendant allege that the Defendant “allowed” title to the Vehicle to be in the Debtor's name “on [the] basis of a relationship of trust and confidence,” and that Defendant “fully performed his end of the agreement, having made ALL payments for the purchase of the Vehicle and having fully paid the Note on the Vehicle.”