The Place of Fiduciary Asset Management in Probate Proceedings – The Legal Fate of the Stray Goat

Abstract

This study examines the inheritance law consequences of the termination of a fiduciary asset management arrangement based on the experience of a specific probate case. It argues that the managed assets do not automatically become part of the estate upon termination, even where the settlor and beneficiary are the same person. The paper highlights the doctrinal distinction between the estate, the managed assets, and the asset manager’s obligation to account for and transfer the assets, as well as the limits of corporate and registry-related considerations.