Directed Trusts

Structuring Trusts, Bifurcating Functions and Converting Existing Trusts Into Directed Trusts

Recording of a 90-minute CLE webinar with Q&A

Conducted on Tuesday, March 27, 2012

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will prepare estate planning counsel to identify opportunities for directed trusts from the perspective of the estate planning attorney and trustee. The panel will outline ways to structure and craft directed trusts, bifurcate functions and convert an existing trust to a directed trust.

Description

Directed trusts provide the opportunity to split trust functions between a trustee and an independent investment advisor. This allows for someone other than the trustee to undertake responsibilities and liabilities traditionally assumed by the trustee, limiting the administrative trustee's liability.

Directed trusts can be used for all aspects of a trustee’s duties, including discretionary distributions, beyond merely managing investments. Existing trusts can be transformed into directed trusts to enable the trust to hold a particular asset.

Counsel should consider a myriad of issues in deciding whether and how to structure directed trusts, bifurcate functions and convert an existing trust into a directed trust.

Listen as our authoritative panel discusses the benefits of directed trusts as an estate planning strategy, from the attorney and trustee perspective, outlining ways to structure and draft directed trusts and ways to convert an existing trust into a directed trust.

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Outline

  1. Directed trusts
    1. Overview
    2. Strategies
  2. Directed trust statutes and the Uniform Trust Code
  3. Drafting considerations
  4. Bifurcating directed functions
  5. Direction letters
  6. Directed trusts from the trustee’s perspective
  7. Convert an existing trust into a directed trust
    1. Decanting
    2. Amendment
    3. Consent settlement
    4. Judicial modification
    5. Moving the trust between jurisdictions

Benefits

The panel will review these and other key questions:

  • What are the statutory requirements for structuring directed trusts?
  • What are effective planning approaches for using directed trusts?
  • What are the best practices for converting an existing trust to a directed trust?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Flubacher, Todd
Todd A. Flubacher
Partner
Morris Nichols Arsht & Tunnell

Mr. Flubacher represents individuals in matters involving complex estate planning, asset protection, estate...  |  Read More

Richard W. Nenno
Richard W. Nenno
Managing Director and Trust Counsel
Wilmington Trust Company

He has over three decades of estate planning experience and is is a Fellow of the American Bar Foundation, a former...  |  Read More

David A. Diamond
David A. Diamond
Esq.
Gordon Fournaris & Mammarella

He has presented on the Delaware Advantages at continuing education classes and meetings across the country. His...  |  Read More

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