Trusts and Estates > Estate Planning > Nailing the Lawyer For His Debtor-Client's Sins

Nailing the Lawyer For His Debtor-Client's Sins

Nov 1, 2005 12:00 PM, By Denis A. Kleinfeld, principal, and Salvador C. Orofino, associate, The Kleinfeld Law Firm, Miami

By: By Denis A. Kleinfeld, principal, and Salvador C. Orofino, associate, The Kleinfeld Law Firm, Miami

So what exactly are fraud, fraudulent conveyance, deceit and fraudulent transfer — and when are attorneys accountable?

Being a trustee entails risk of personal liability. Being one of a number of trustees can increase the risk. In the legendary Matter of Rothko,1 a fiduciary that failed to try to prevent his co-fiduciaries from breaching their duties was surcharged $6 million.

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