Cannon Estate Planning Teleconference: Dealing with a “Bad” Trustee

Unfortunately, some trusts, even where the administrative and dispositive provisions are well-designed, fail to operate as intended because the Trustee lacks the ability to be an effective fiduciary. The Trustee’s shortcomings may result from his or her having insufficient trust administration expertise and/or a confrontational attitude towards one or more of the beneficiaries. Depending on the nature and extent of the Trustee’s deficiencies, resolving the situation may prove difficult. Considerations to be discussed in this teleconference include:

• Determining Whether One or More Breaches of Fiduciary Duty Have Been Committed
• How to Proceed if No Actionable Breach of Duty Has Occurred
• Possible Options for Improving Quality of Administration or Relationship With Beneficiaries
• Removal and Replacement of Trustee

Hosted at The Trust Company of Tennessee’s Knoxville office with limited attendance for safety.

Boxed lunches will be served for those attending in person beginning at noon. Socially distanced seating is available in our conference room for a limited number.

If you are interested in attending virtually, we are exploring options for your participation. Please contact Lindsay Cates at lcates@thetrust.com.

Speakers

Charles A. (“Clary”) Redd is a partner in the St. Louis office of Stinson LLP. Clary concentrates his practice in estate planning, estate and trust administration and estate and trust-related litigation. He is an elected member of The American Law Institute, a Fellow of The American College of Trust and Estate Counsel and an Adjunct Professor of Law at Northwestern University School of Law. He also serves as Co-Chair of the Editorial Advisory Board of, and writes a regular column in, Trusts & Estates magazine. He is listed in The Best Lawyers in America and is nationally ranked by Chambers USA in its “Wealth Management” category.

Adam Gusdorff’s practice focuses on litigation involving trusts, estates, guardianships, and other fiduciary matters. He represents individual and corporate clients in a variety of Orphans’ Court and Register of Wills matters, including will and trust interpretation cases, trust modifications, probate disputes, will contests, guardianship proceedings, fiduciary surcharge actions and compensation disputes, and matters involving charitable organizations. Although Adam focuses his practice on litigation, he also has extensive experience in estate planning, estate and trust administration, and the formation of charitable organizations. He continues to advise individual and corporate fiduciaries regarding estate and trust administration issues.

About Cannon Estate Planning Teleconferences

The industry’s foremost wealth management and estate planning authorities provide commentary and debate over the use of complex financial and legal strategies to best serve their high-net-worth clients. Time is reserved at the beginning of each call for the most current legislative changes impacting the audience and their clients.

Professionals can connect and collaborate on relevant issues while earning continuing education and learning credits to preserve their valuable business credentials.