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About the Teleseminar
There are few more difficult jobs than serving as a trustee. You stand between beneficiaries, who often have unrealistic expectations of distributions, and a trust’s assets, which beneficiaries view as something they should control without your interference. You have the additional challenge of managing assets, often concentrated positions, in what can be an unpredictable market and your decisions are judged against standards of law and routinely questioned by beneficiaries. It is an area fraught with potential liability for trustees and litigation for trusts. This program will provide you with a practical guide to the fiduciary duties of trustees, how the risk of dispute and litigation can be reduced in the estate planning process, and effectuate the removal of trustees if needed.
- Fiduciary duties and standards of trustees – liability and planning to reduce dispute
- Investment management – prudent investor rule, delegation, monitoring and diversification
- Duties of loyalty– beneficiary interests v. trustee’s interests
- Impartiality – balancing interests of multiple beneficiaries and trust principal v. income interests
- Duty to inform and report – regularity and “process,” not results
- Distributions – understanding mandatory v. discretionary distribution standards
- Removal, resignation and succession of trustees
About the 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.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour, including up to1.0 Estate Planning & Probate Law Specialty Credit Hour. (Tentative)