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Understanding and Counseling Trustees About Their Duties (teleseminar)
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5/5/2016 to 5/6/2016
When: 05/05/2016 to 05/06/2016
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781


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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
 
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

 
2 CLE hours
 
Trustees are frequently caught between rocks and hard places: The difficulty of preserving and growing the assets of a trust in risk-filled, low-return markets, on the one hand, and the rising demands or unrealistic expectations of beneficiaries, on the other hand.  Trustees, whether individuals or institutions, have the duties to act with loyalty and impartiality, to regularly inform beneficiaries, and prudently invest a trust’s assets. In the context of a uncertain markets or when the trust’s principal asset is a family business these duties are particularly fraught fiduciary risk for trustees. There is also the growing role of “trust protectors” in the governance of trust, changing the traditional relationships between trustees and beneficiaries.  This program will provide you with a practical guide to the fiduciary duties of trustees, how to mitigate the risk of dispute and litigation, the role of trust protectors and more. 
 
Day 1 – May 5, 2016:

Fiduciary duties and standards of trustees
Duties of loyalty– beneficiary interests v. trustee’s interests 
Impartiality –  balancing interests of multiple beneficiaries and trust principal v. income interests
Investment management – prudent investor rule, delegation to professionals and supervision, diversification
Duty to administer the trust and regularly inform beneficiaries – regularity and “process,” not results 

Day 2 – May 6, 2016:


Distributions – understanding mandatory v. discretionary distribution standards, HEM standards and more
Choice of trustees – individual v. institutional alternatives and the tradeoffs of each
Removal, resignation and succession of trustees
Emerging role of trust protectors in governing trusts
Practical sources of trustee liability

Speaker:

Blanche Lark Christerson is a managing director at Deutsche Bank Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies.  Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company.  She also practiced law with Weil, Gotshal & Manges in New York City.  Ms. Christerson is the author of the monthly newsletter “Tax Topics."  She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.

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