Phung v. Doan

The Supreme Court reversed the district court's order granting Respondent's motion to decant half of a wholly charitable trust's property, holding that the district court erred in ordering a course of action that the trust instrument did not permit and the settlors did not intend.The district court's order decanted half the trust's property into a newly created wholly charitable trust with the same purpose as the original charitable trust, to be administered solely by one trustee of the original trust. This action was taken against the objection of co-trustees. The Supreme Court reversed, holding that the district court erred by ordering the wholly charitable trust decanted under Nev. Rev. Stat. 163.556 because the terms of the trust instrument required the unanimous consent of all trustees to make a distribution of half of the trust's assets. View "Phung v. Doan" on Justia Law