Bank of America, N.A. v. Sweeney

The trustee of the Zephrine A. Anderson Revocable Trust (trust) commenced this action in the county court, seeking reformation of the trust. The trustee argues that the settlor intended to create a charitable remainder unitrust in compliance with § 664(d) of the Internal Revenue Code (I.R.C.) and regulations promulgated thereunder, but due to mistake, the trust fails to comply with all applicable requirements.3 A single justice reserved and reported the case to the full court. We agree that the proposed reformation is warranted.

The facts are not in dispute.4 The settlor, Zephrine A. Anderson,…