Aoki v. Aoki

Hiroaki (Rocky) Aoki, the founder of the Benihana restaurant chain, formed the Benihana Protective Trust (BPT) in 1998 to hold stock and assets relating to Benihana. In 2002, Rocky married Keiko Aoki. In September 2002, Rocky executed a partial release of his testamentary power of appointment whereby Rocky could appoint only his descendants at the time of his death. In December 2002, Rocky executed a second release further restricting his power to appoint by excluding any descendants who were non-resident aliens. After Rocky’s death, the BPT trustees commenced this proceeding seeking a determination as to the validity of the September and December releases. The Surrogate Court decreed the September and December Releases invalid on the grounds that Rocky was not aware that the Releases were irrevocable and that Rocky’s execution of the Releases was not voluntary. The Appellate Division reversed. The Court of Appeals affirmed, holding that Keiko failed to raise a triable issue of fact that the Releases were signed as a result of fraud or other wrongful conduct. View "Aoki v. Aoki" on Justia Law