Wright v. Weber

A judge in the Probate and Family Court reported this case to the Appeals Court for determination, and we granted the parties’ joint application for direct appellate review. The plaintiffs seek to reform the Lawrence Weber Irrevocable Trust in order better to serve the settlor’s intent of minimizing Federal gift taxes. The plaintiffs have proposed two reforms to the trust. First, they wish to adjust the annual withdrawal power of the beneficiaries to reflect the maximum Federal gift tax exemption. Second, they seek to insert a provision, which would qualify the withdrawal power as a “hanging…