Description
Gain a better understanding of directed trusts, how they are created, and what they are intended for.Directed trusts are being used to add flexibility in administering a trust. In a directed trust, a trust protector, cotrustee, or other fiduciary may direct the trustee to perform certain actions to facilitate trust administration. As the laws surrounding directed trusts have evolved significantly, this topic will allow the practitioner to understand the uses of directed trusts and the advantages and pitfalls of such use.
Date: 2019-11-07 Start Time: End Time:
Learning Objectives
What Is a Directed Trust
• Definition
• Third Restatement
• Uniform Directed Trust Act
How Are Directed Trusts Created
• Drafting New Trust
• Modifying an Existing Trust
• Decanting
• Exercising of Power of Appointment
• Modifying Trust
Circumstances to Consider Directed Trusts
Common Directed Trust Provisions
Advantages of Directed Trusts
Disadvantages of Directed Trusts/Areas of Concern
• Fiduciary Duties
• Standards of Liability
• Impact on Trust Administration
Case Studies
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Stacey Prince-Troutman-Akerman LLP
