Fleet National Bank v. Kahn

We granted the plaintiffs’ application for direct appellate review. They seek to reform the Florence Roberta Gerlach Trust to authorize division of the trust into exempt and nonexempt shares in order to minimize Federal generation-skipping transfer (GST) taxes.5 We have previously allowed reformations of this specific type. After a thorough review of the record, we are satisfied that the proposed reform is consistent with the settlor’s intent and should be allowed as a matter of Massachusetts law. The language of the trust reveals that the settlor was tax conscious, and there is no provision…