Ferri v. Powell-Ferri

Plaintiffs, the trustees of a trust created by Paul John Ferri, Sr. solely for the benefit of his son, Paul John Ferri, Jr. (Ferri), sought a judgment declaring that they were authorized to decant certain assets from the trust and that Nancy Powell-Ferri, Ferri’s former wife, had no right, title, or interest in those assets. The trial court concluded that Plaintiffs were not allowed to decant the trust because Ferri had a vested irrevocable interest in its assets. The Supreme Court reversed in part, holding (1) under Massachusetts trust law, Plaintiffs had authority to decant assets from the trust; (2) the trial court erred in granting attorney’s fees to Powell-Ferri; and (3) the trial court did not err in the remaining issues challenged on appeal. View "Ferri v. Powell-Ferri" on Justia Law