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Cannon Estate Planning Teleconference: Directed Trusts: Risks and Liabilities
September 21 at 1:00 pm - 2:30 pm EDT
Directed trusts, largely unknown in the United States just a few decades ago, are becoming increasingly common. Many states have adopted statutes to establish a framework for the operation of directed trusts, and courts are sometimes called upon to resolve messy disputes among trust protectors, Trustees and beneficiaries. We will discuss the unique drafting challenges, liability risks and other issues that arise in connection with directed trusts, including:
- State Laws and Desirable Governing Instrument Provisions Regarding Directed Trusts
- Ways to Divide Duties and Responsibilities of Trust Administration Between Trustee and Trust Protector
- Nature of a Trust Protector and Whether a Trust Protector is or Should Be a Fiduciary
- Potential Liability of Directed Trustees and Trust Protectors
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 firstname.lastname@example.org.
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.
Turney P. Berry is a Member of the Executive Committee and the Chair of Wyatt, Tarrant & Combs’ 22 lawyer Trusts, Estates & Personal Planning Service Team. Turney is a Fellow of the American College of Trust and Estate Counsel and the American College of Tax Counsel, a Uniform Law Commissioner and member of the Joint Editorial Board for Uniform Trust and Estate Acts, a Trustee of the Southern Federal Tax Institute and a member of the Advisory Council of the Heckerling Institute on Estate Planning as well as a Member of the Advisory Board of Trusts and Estates Monthly and a Vice-Chair of the Charitable Planning section for the ABA Section of Real Property, Trust and Estate Law. He is listed in Woodward/White’s The Best Lawyers in America®.
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.