Trust Protectors in Estate Planning: Benefits and Legal Risks
Evaluating the Use, Selection, and Powers of Trust Protectors in States With and Without Trust Protector Statutes
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide estate planning practitioners with a review of the benefits and risks of incorporating trust protectors and directing parties into estate plans. The panel will discuss how counsel can use trust protectors, drafting considerations, powers and duties, and jurisdictional differences.
Outline
- Role of trust protector
- Benefits and risks
- Whom to appoint
- Powers and duties
- Jurisdictional differences
- Drafting issues
Benefits
The panel will review these and other key issues:
- What are the tax risks in including trust protectors in trust and estate planning?
- What powers and duties of the protector should be included in the trust agreement?
- How and when should counsel consider using a “springing protector” and decide whether it's the “best of both worlds”?
- How do the roles of directing parties and trust protectors differ?
Faculty
Mary A. Akkerman
Partner
Lindquist & Vennum
Ms. Akkerman practices in the areas of estate planning, wills and trusts, estate and trust litigation, guardianship and... | Read More
Ms. Akkerman practices in the areas of estate planning, wills and trusts, estate and trust litigation, guardianship and conservatorship litigation, tax litigation, probate, adoptions, prenuptial agreements, antenuptial agreements, and cohabitation agreements. She serves on the S.D. State Bar Law School Committee. She is a member of the Sioux Falls Estate Planning Council and USD Planned Giving Council.
CloseGregory F. Monday
Shareholder
Reinhart Boerner Van Deuren
Mr. Monday is a shareholder in the firm’s Business Law and Trusts and Estates practice areas. His primary... | Read More
Mr. Monday is a shareholder in the firm’s Business Law and Trusts and Estates practice areas. His primary focus is family business law, including succession planning for family businesses and estate planning and trust administration. He is also an adjunct professor with the University of Wisconsin Law School, where he teaches business law.
CloseEdward L. Perkins
Principal
Gibson & Perkins
Mr. Perkins is a principal shareholder in the firm and also a member of the faculty of the Graduate Tax Program of the... | Read More
Mr. Perkins is a principal shareholder in the firm and also a member of the faculty of the Graduate Tax Program of the Villanova Law School, where he has taught numerous courses, including “The Drafting Fundamentals of Estate Planning Documents.” He has practiced as a transactional attorney for over 25 years.
Close