When Reporting on your SC Commission Compliance Report, please use this code: 172895ADT
To register for this live teleseminar replay, please click here
About the Teleseminar
One of the difficult decisions in a trust is when to make a discretionary distribution. It is difficult for the settlor of the trust to confer that (often broad) discretion on a fiduciary. It’s difficult for a trustee because the standards established by law or by trust documents are often vague and that vagueness leads to substantial tension with beneficiaries who want more. It’s difficult for the planner and draftsman because the client often has an uncertain sense of what the standards for distributions should be in the first instance and client’s decision may shift over time. All of these difficulties combine to make discretionary distributions a source of contention and potentially litigation and liability. This program will provide you with a real-world guide to establishing and drafting distribution standards, and provide you tips on administration and how to avoid disputes with and among beneficiaries.
- Planning distribution standards in trusts and making judgments for planners, draftsmen and fiduciaries
- Drafting trust documents to establish objective, measurable standards for distributions
- Statutory and common law framework for discretionary distributions
- “HEMS” – health, education and maintenance – standards and how they operate in practice
- How discretionary distributions are treated by corporate v. individual trustees
- Balancing the tension between income beneficiaries and beneficiaries with remainder interests
About the Speakers
Blanche Lark Christerson is a managing director at Deutsche Bank Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies. Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company. She also practiced law with Weil, Gotshal & Manges in New York City. Ms. Christerson is the author of the monthly newsletter “Tax Topics." She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.
David T. Leibell is Senior Wealth Strategist at UBS Private Wealth Management in New York City, where he provides clients comprehensive strategies to assist in the preservation, transfer and management of wealth. He also serves as an internal resource for UBS clients on all issues related to tax, estate planning, philanthropy and wealth planning. He is chairman of the Family Business Committee for Trusts and Estates Magazine and is listed in “The Best Lawyers in America” for two practice areas— Trusts and Estates and Charities/Non Profits. Before joining UBS, he was a partner in the Private Client Services Department of Wiggin and Dana, LLP in Greenwich, Connecticut. Mr. Leibell received his B.A. from Trinity College and his J.D. from Fordham 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
(Instruction Level: Intermediate)*Live Teleseminar programs are not live credit programs. Supreme Court Commission on CLE rules allow SC Bar members to use Alternatively Delivered programming to obtain up to 6.0 hours of MCLE each reporting period. For FAQ’s please click here.