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Texas Tech Univ. School of Law

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Saturday, July 19, 2014

Florida Affirms Expansion of duPont Trust

GavelIn 2004, a Florida trial court modified the definition for beneficiaries under the duPont Trust. The Trust funded the Nemours Foundation, which assists “crippled children” and the elderly with medical care costs in Delaware. The court modified the trust to cover children under 18-years-old rather than 21, and included preventative care as a type of covered medical cost. The Attorney General of Delaware, Joseph Biden, III, attempted to intervene in the case last year in an attempt to set aside the part of the judgment that added preventative care.

In Joseph R. Biden, III v. John S. Lord et al., a Florida appeals court denied the intervention because it would harm original parties to the case, and would not protect the Delaware beneficiaries. The modifications to the trust have provided over $111 million of financial support for preventative care to Delaware beneficiaries.

See Anya Van Veen, Biden Loses Bid to Reduce Benefits to “Crippled Children” and the Elderly in duPont Trust Case, Clark Skatoff, July 17, 2014.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/florida-affirms-expansion-of-dupont-trust.html

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