How to Use Trust Protectors in Client Plans

course

COURSE INFO

  • Available Until 11/27/2022
  • Next Class Time 12:00 PM CT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 11272019
  • MCLE Credits 1 + hours


Course Price: $65.00
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COURSE DESCRIPTION

The use of trust protectors and trust advisers are increasingly commonplace in in trust and estate planning. Trust protectors stand in the shoes of the trust settlor, ensuring that his or her wishes are fulfilled. Appointed the settlor, they are independent of trustees, potentially wielding substantial power over the trustee’s decisions, including adding or removing beneficiaries, making distributions, or even removing the trustee. The idea is the trust protector will have a global vision of the settlor’s wishes, judge trustee performance, and beneficiary needs. But these innovations come with administrative inefficiencies, additional costs, and complicated drafting. This program will provide you with a practical guide to planning with and drafting the duties of trust protectors and trust advisers for client trusts. 

  • Role, sources of authority, and duties of trust protectors
  • Differences between trust protectors and trust advisers
  • Relationship of trust protectors to trust settlor, trustees, and beneficiaries
  • Powers of trust protectors – trustee removal, investment veto, trust termination, beneficiary modification, direct distributions
  • Costs and administrative issues of trust protectors and trust advisers
  • Statutory and common law forms of trust protectors

 

Speaker:

Daniel L. Daniels is a partner in the Greenwich, Connecticut office of Wiggin and Dana, LLP, where his practice focuses on representing business owners, corporate executives and other wealthy individuals and their families.  A Fellow of the American College of Trust and Estate Counsel, he is listed in “The Best Lawyers in America,” and has been named by “Worth” magazine as one of the Top 100 Lawyers in the United States representing affluent individuals. Mr. Daniels is co-author of a monthly column in “Trusts and Estates” magazine.  Mr. Daniels received his A.B., summa cum laude, from Dartmouth College and received his J.D., with honors, from Harvard Law School.