Family Trusts

Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight.

Family Trusts

An insightful and practical guide to family trusts Family Trusts is a step-by-step guide for anyone involved in family trusts: trust creators, trustees, beneficiaries, and advisors. It will help families create and administer a culture that recognizes trusts as a gift of love. Marrying the practical and emotional aspects of family wealth, this book provides a hands-on primer that focuses on fostering positive relationships, and structuring the trust appropriately for the situation and the people involved. It tackles difficult topics with frank and honest discussion, from the first beneficiary meeting to working with addictions, and more. Written by a team of experts in family wealth, this information is becoming increasingly crucial to the successful execution of a trust; you'll learn what type of person makes the best trustee, how to be an excellent beneficiary, and the technical aspects that help you build a better trust from the very beginning. There's been a staggering increase in trustee/beneficiary litigation and hostility, but that doesn't mean it's inevitable. Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight. Express clear and thoughtful intent for the trust Create a healthy and supportive culture Select the right trustee, trust protector, and trust advisor Take the time to prepare before initially meeting the beneficiary Conduct a productive first meeting to set a tone for the relationship Historically, there has been little consideration given to the culture of trusts, and this oversight may be a key driver of the behavior that's becoming more prevalent. Family Trusts explores the nature of these relationships, and shows you how to build a trust that retains the nature and spirit with which it was intended.

Trust Protectors A Practice Manual with Forms

Is this necessary if the trust is running smoothly? At least one commentator has stated, “[...the emergence of trust protectors raises a new set of agency cost problems.]”116 Furthermore, in those trusts where the trustee must obtain ...

Trust Protectors  A Practice Manual with Forms

The trust protector is generally regarded as a relatively new position in trust law, and the key feature of the position is that the protector may be granted powers over the trust, which are generally superior to those of the trustee. This places the protector in a position where, by the exercise of his powers, he can cause the trust to adjust to unforeseen changes or new conditions without the need for court action or beneficiary approval. This work takes the firm position that, with only limited exception, the role of the protector is a fiduciary one, imposing on the protector a duty to act in the best interests of the purposes of the trust and the beneficiaries. Unfortunately, a substantial segment of the legal community, as well as the legislative bodies of a number of international jurisdictions, have taken a position that the protector is not a fiduciary, or that he may be declared in the trust not to be a fiduciary, and that the power granted him under the trust may be declared to be personal powers, whether or not such is the case, and thus he would have no liability for his actions or inactions while serving as protector. This “attraction” of providing total exculpation of the protector has effectively engendered a quick acceptance of the position by the bulk of the legal community and even by the legislatures of a number of jurisdictions, though almost totally unsupported by relevant case law. As a result, we have been seeing trusts which incorporate the use of a protector having the power to make critical dispositive and administrative decisions, as well as extensive modifications to the trusts without being exposed to liability for negligence or bad decisions which result in damages. This work will examine in detail the role of the protector of the trust, the relationship between the protector and the trustee, between the protector and the beneficiaries, and the protector’s responsibilities to the purposes of the trust. It will demonstrate with legal support that the role of the protector is not a new role, that, in fact, the protector is simply a new name for the decades-old position of trust “advisor,” and that the trust advisor is consistently regarded as a fiduciary in relevant treatises and has been repeatedly held to be a fiduciary in relevant cases. The discussion will also review and analyze the historical issues and professional commentary relevant to trust law and the role of protector, as well as case decisions in various international jurisdictions which have shed light on the issues and some of the positions taken in the statutes of a number of jurisdictions in the United States and across the world. All legal aspects of the role will be examined, including the rights of the protector, the protector’s relationship to the trustee, and the courts’ regard for and treatment of the position. Further, the work will discuss in detail all of the practical considerations in using a protector, such as selection and special drafting considerations, the use of a protector in a foundation, and, in brief, the numerous tax issues that may apply. The conclusion will be that with only very limited exception, which will be explained, the protector is unquestionably a fiduciary, and just as a trustee, he should be held to fiduciary standards. Accordingly, while it is certainly possible to grant personal powers to an individual under a trust, those powers per se conflict with the duties of a protector. And while it is also possible to reduce the fiduciary liability of a protector to a minimum, it is not possible to eliminate it entirely, regardless of trust language attempting to do so.

Trust Protectors

The second edition of Holden on Trust Protectors will provide coverage of more than 25 new cases decided since 2011 directly touching on the powers, duties, rights and proper role of the protector.

Trust Protectors

more details to follow

Protectors of Trusts

Protectors of Trusts is the ideal first port of call for anyone who needs to know about trust protectors, whether from a contentious or a non-contentious perspective and aims.

Protectors of Trusts

A protector is a person appointed under the trust instrument given powers in relation to the administration of the trust. The modern use of protectors came about because settlors of international trusts were concerned about the risks involved in transferring their assets to trustees in distant countries. Protectors are now a common and important feature of trust structures, as used in many international financial centres. Protectors of Trusts is the ideal first port of call for anyone who needs to know about trust protectors, whether from a contentious or a non-contentious perspective and aims.

Estate Planning

By comparison, a trust protector is generally not considered a fiduciary42 and may act but generally has no obligation to do so. Thoughtful consideration in the designation of the initial trust protector and successor trust protectors, ...

Estate Planning

This casebook introduces students to the principles of estate planning and challenges them to analyze simulated client scenarios. Featuring a case-study and problems approach in which the principles of estate planning are first introduced and then demonstrated through student analysis of short exercises and simulated client situations. A forms supplement on a CD is an additional tool for giving students practice with drafting exercises.

53rd Annual Heckerling Institute on Estate Planning

duties, based in part on how the trust document addresses these questions. In Carberry v. Kaltschmid, 2018 WL 2731898 (Cal. Ct. App.), the trust document expressly provided that the trust protector served “in a fiduciary capacity” and ...

53rd Annual Heckerling Institute on Estate Planning

Each year the most prominent authorities in the field come together at the Heckerling Institute on Estate Planning to discuss and analyze the most important developments in the areas of estate planning and estate, gift, and income taxation. Now in its fifty-third year, the Heckerling Institute is widely regarded as the premier estate planning program in the country. This one-volume publication provides cutting-edge articles based on the podium lectures delivered at the Heckerling Institute. Hot topics for this year's Institute include: • Annual Review of Estate Planning Developments • IRC Section 199A • Powers of Appointment • Charitable Giving

International Trust Disputes

When reaching a decision, therefore, the trustee must exercise her own discretion and not simply comply with the settlor's requests.15 Protectors 7.09 Protectors are rare in English law trusts but are much more common in offshore ...

International Trust Disputes

The number of disputes involving trusts has risen significantly in recent years. Many disputes take place in the international environment and cross-border jurisdictional issues may arise. These disputes often involve large sums of money, impacting significantly on family relations. The handling of such disputes requires specialist skills and knowledge, including an understanding of how and why private trusts are established and administered and the problems that can arise; an awareness of the cross-jurisdictional issues that may be relevant; and the ability to identify practical legal solutions to the dispute that are compliant with trust principles. International Trust Disputes provides a comprehensive and thorough treatment of this topic. Acting as a specialist guide for practitioners, it offers a survey of the special considerations that may arise with regard to trust disputes as well as a definitive guide to the issues which may be encountered in the jurisdictions where disputes are most likely to take place.

Casenote Legal Briefs for Wills Trusts and Estates Keyed to Sitkoff and Dukeminier

The Andersons (D) were also protectors of the trust. When the Andersons (D) notified AsiaCiti that they were under court order to repatriate the funds in the trust, AsiaCiti informed them that the temporary restraining order was an ...

Casenote Legal Briefs for Wills  Trusts  and Estates Keyed to Sitkoff and Dukeminier

After your casebook, a Casenote Legal Brief is your most important reference source for the entire semester. Expert case studies and analyses and quicknote definitions of legal terms help you prepare for class discussion. Here is why you need Casenote Legal Briefs to help you understand cases in your most difficult courses: Each Casenote includes expert case summaries, which include the black letter law, facts, majority opinion, concurrences, and dissents, as well as analysis of the case. There is a Casenote for you! With dozens of Casenote Legal Briefs, you can find the Casenote to work with your assigned casebook and give you the extra understanding of all cases Casenotes in 1L subjects include a Quick Course Outline to help you understand the relationships between course topics.

Wills Trusts and Estates for Legal Assistants

If the instrument does not fill the vacancy, the local trust statutes would be examined. ... Trust. Protectors. The settlor may also appoint a trust protector, a person whom the settlor directs to watch over the trustee with respect to ...

Wills  Trusts  and Estates for Legal Assistants

Using an effective “learn by doing” approach, Wills, Trusts, and Estates for Legal Assistants emphasizes examples and applications, and includes hundreds of real life situations with detailed explanations. Students understand what the rules of law mean and how they apply in a real world context. The complete topic coverage introduces wills and trusts, intestate succession, estate administration, nonprobate transfers, and other estate planning issues such as taxes and malpractice. A balanced, experienced author team skillfully blends theory with practice and extensive pedagogy reinforces the text, with marginal terms and a glossary, ethical points, checklists, practice tips, and sample forms. The instructor's manual provides a summary of chapters, a model course outline, exam questions, assignment ideas, exercises, and a research guide for wills, trusts, and estates. New to the Sixth Edition: The impact of the Tax Cuts and Jobs Act on federal income, gift, estate, and generation-skipping transfer taxes Rights and liabilities of same-sex spouses Electronic wills and access to a decedent’s digital assets Techniques for demonstrating testamentary capacity Directed trusts and trusts authorizing trustees to consider environmental, social, and governance factors in making investment decisions Modifying the terms of an irrevocable trust by “decanting” Professors and students will benefit from: lively, lucid, and conversational style grabs and holds students’ interest learning-by-doing approach gives students a concrete grasp of abstract concepts Practice Tips guide students through the critical process of preparing and managing files flexible structure allows professors to follow the presentation of concepts in the book or organize the chapters to fit their syllabus

Great Debates in Equity and Trusts

The first possibility is that protectors are in fact trustees themselves. ... If this person was not named 'protector' in the trust instrument already then any person who took control of the trust in this fashion would be considered to ...

Great Debates in Equity and Trusts

An engaging introduction to some of the more advanced concepts in Equity and Trusts, providing a cutting edge for students who are looking to gain additional insights with which to excel. Illuminated throughout with discussion of the specific issues which reveal the practical significance of different theoretical positions.

Equity Trusts and Commerce

protector, even a protector holding fiduciary powers (and a fortiori a protector who holds personal powers), can sue to restore the trust fund, assuming of course that the protector is not a beneficiary of the trust in question.

Equity  Trusts and Commerce

This collection of essays, written by leading commentators from across the common law world, examines a range of topics concerning Equity and Trusts in the commercial context. The essays investigate the way in which doctrines derived from the equitable jurisdiction interact with and shape various areas of the law, including company law, commercial law and agency law. Subjects considered include the difficulties in identifying trust assets in the commercial context; the court's role in supervising the trust; and the remedies available in cases of fiduciary or trustee wrongdoing. This book will be of interest to both academics and practitioners working in these difficult areas of equity and commercial law.

Asset Protection

TRUST PROTECTOR ARRANGEMENTS A trust protector is a person or entity identified in a trust document who has certain delineated ... Recently , the powers of trust protectors in FAPTs tend to be limited to negative powers — for example ...

Asset Protection

Todays most popular, established strategies.

Wills Trusts and Estates

When ordered by the court to repatriate the funds in the trust, the Andersons (D) asserted that under the terms of the ... A party who is a protector for an offshore trust of which he is a beneficiary cannot assert an impossibility ...

Wills  Trusts  and Estates

After your casebook, Casenote Legal Briefs will be your most important reference source for the entire semester. It is the most popular legal briefs series available, with over 140 titles, and is relied on by thousands of students for its expert case summaries, comprehensive analysis of concurrences and dissents, as well as of the majority opinion in the briefs. Casenote Legal Briefs Features: Keyed to specific casebooks by title/author Most current briefs available Redesigned for greater student accessibility Sample brief with element descriptions called out Redesigned chapter opener provides rule of law and page number for each brief Quick Course Outline chart included with major titles Revised glossary in dictionary format

The Trustee s Legal Companion

Trust Protectors Every so often, but not that often, we find trusts that name a friend or family member as a “trust protector.” This person may have the power to step in and replace the trustee with someone else, either someone named in ...

The Trustee s Legal Companion

Millions of Americans have created living trusts over the past couple of decades, giving little or no thought to what the successor trustee will have to do when the time comes. This book shows every trustee how to handle paperwork, keep beneficiaries informed, and get help from experts if necessary.

AARP Crash Course in Estate Planning

The Essential Guide to Wills, Trusts, and Your Personal Legacy Michael T. Palermo ... Certainly , the important trust protector powers can effectively be given to a “ regular " trustee , and in many cases that's a good idea .

AARP Crash Course in Estate Planning

The Essential Guide to Wills, Trusts, and you personal legacy. What you need to know before consulting you attorney.

Trusts in Latin America

Subject to the terms of the trust, in the exercise of his or her office a protector shall owe a fiduciary duty to the beneficiaries of the trust or to the purpose for which the trust is created. Where there is more than one protector of ...

Trusts in Latin America

The growing interest in investment in Latin America - particularly in commodities production and real estate development - has increased the use of trusts as investment vehicles throughout Latin America. Written for the English-speaking practitioner, the book covers Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, México, Panamá, Paraguay, Perú, Uruguay and Venezuela and provides a practical, clear, and thorough explanation of trusts as legal vehicles for investment in Latin American countries. Trusts in Latin America provides a comprehensive, comparative review of statutes, case law, and examples of trusts in Latin America, and also highlights differences between these countries and common-law systems.

Special Needs Trusts

Any Trust Protector ( including successors ) shall have the right to appoint a successor Trust Protector . ... If there are successor Trust Protectors named in this agreement , then appointment of a successor Trust Protector under this ...

Special Needs Trusts


The Law of Trusts and Trustees

The Trustee shall , to the extent of the Trust assets and solely payable from the Trust assets , indemnify the Trust Protector for all losses , costs , damages , expenses and charges , public and private , including reasonable attorneys ...

The Law of Trusts and Trustees