Understanding the Role of the Trust Protector (OnDemand Webinar)

$219.00

SKU: 406203EAU

Description

Explore this comprehensive guide to structuring a trust protector and directing party provisions into a trust or estate plan.Practitioners are increasingly encountering trust protector provisions in documents and cuttingedge practitioners are using trust protectors to add value and flexibility to the services they provide clients and customers. Unfortunately, there is a dearth of domestic (U.S.) case law interpreting state statutes. The various state laws differ and often laws between states conflict with one another. Understanding the role of the trust protector helps practitioners and related professionals responsible for client and customer matters understand what a trust protector is, what duties a trust protector has and does not have, and how a trust protector acts when needed. This information is critical to advise clients and customers now and in the future. Soon, use of trust protectors will become so ubiquitous that knowledge of these materials will likely constitute basic knowledge for many practitioners and related professionals.

Date: 2019-09-12 Start Time: End Time:

Learning Objectives

Definition of Trust Protector
• Origin
• Fiduciary vs. Non-Fiduciary
• Distinguished From Trust Advisor
• Use in Practice

Trust Protector Duties, Powers and Liabilities
• Duty to Protect and Monitor
• Scope of Powers
• Extent and Limitation of Liability

Trust Protector Rights
• Right to Information
• Source of Power: Personal vs. Fiduciary
• Compensation

Trust Protector Vis-a-Vis Trustee and Courts
• Who Has Ultimate Power
• Overlapping Powers
• Directed Trusts
• Uniform Trust Code
• Court’s Jurisdiction and Powers

Trust Protector Role in Practice
• Example: Private Retirement Trust
• Reasons to Include a Trust Protector
• Selection of Trust Protector
• Powers
• Tax Considerations

No Credit Available

James L. Cunningham, Jr.-Cunningham Legal, Raymond F. Olmo, CEA, CEP, RFC – Trust-CFO