Benjamin v. Corasaniti

Citations

• 341 Conn. 463

Syllabus

The plaintiffs, H and the cotrustees of certain trusts of which H was a beneficiary, appealed to the trial court from the decision of the Probate Court, which concluded that H's brother, P, had validly exercised his testamentary powers of appointment under certain trusts established for his benefit by directing in his will that the proceeds of the sale of stock in a family corporation, H Co., be distributed to a charitable trust that P had established. P and his five siblings, including H, were each a beneficiary of two trusts established by their father in 2002 and 2005, which were governed by Illinois and Connecticut law, respectively. In 2011, P and his siblings, except H, transferred their shares in H Co. to separate trusts, which also were governed by Illinois law. Pursuant to P's 2002, 2005 and 2011 trust instruments, P was granted a nongeneral testamentary power of appointment over the H Co. shares held in trust for his use and benefit. P could exercise his power of appointment only by specific reference in his will, but not in favor of himself, his creditors, his estate, or the creditors of his estate. Furthermore, if P failed to validly exercise his power of appointment, his trust property would be distributed equally to the trusts of his surviving siblings. In addition, the H Co. shareholder's agreement provided that, if a sibling exercises his or her power of appointment with respect to the H Co. shares held in his or her trusts, those shares shall be sold, within nine months of the sibling's death, in equal amount to the surviving siblings' trusts. After an accident rendered P a quadriplegic, P established the charitable trust in 2016, the purpose of which was to provide financial assistance to quadriplegics and their caregivers and to fund quadriplegia related research and initiatives. P thereafter executed a will in which he stated that he was exercising his testamentary powers of appointment over the H Co. shares held in his 2002, 2005 and 2011 trusts