On December 1, 2012, the Court of Chancery adopted a new Rule 104 and made revisions to Rule 101. Rules 100 to 103 initially were adopted in April 2012 to govern proceedings to modify trusts by consent, and were designed to ensure that the Court receives complete information about the trust, its beneficiaries, and its fiduciaries before determining whether the trust can and should be modified. The new amendment to Rule 101 further advances that goal by clarifying that the appendices to the petition must include a complete black-lined and complete clean copy of the proposed, amended trust instrument, so that the import of the proposed changes is clear. New Rule 104 clarifies that Rules 100 to 104 apply to any action in which the parties seek to modify a trust, including settlements of contested cases. Click here to read the order. |