Free Webinar on Trust Protectors

WealthManagement.com is sponsoring a webinar entitled, Trust Protector – Trust(y) Watchdog orExpensive Exotic Pet?, on Tuesday, September 17, 2013.  Provided below is a description of the event:

It’s no secret thatthe trust protector has become the new kid on the trust block, with powersranging from removing and replacing trustees, to adding or deletingbeneficiaries, to a virtual re-writing of a trust. But is the trust protectorreally a new idea in trust law? Which trusts should have a trust protector andwho should it be? What are the pros and cons of giving the protector suchextensive powers and what drafting issues come into play? And most importantly,can we draft away any fiduciary duty?

When using a trustprotector, drafting counsel often take one of two approaches. They eitherrestrict the protector’s power or the ability to remove and replace thetrustee, which may be an underuse of the position—or they include a huge arrayof powers that can result in tax risks unanticipated by the draftsperson or thesettlor. Our speakers will discuss appropriate powers and duties of theprotector.

Join our speakers asthey also analyze the position in light of several milestone cases on thesubject (including the sole U.S. case). They’ll review the origin of theprotector and why it can be such a desirable position. They’ll examine a numberof conflicting state statutes on trust protectors and discuss the practicaleffect of the differences. They’ll discuss the delicate drafting issues andcomment on the role of the protector vis a vis the trustee and what happenswhen the two disagree. Finally, they’ll offer a way to engage a protector onlyif and when one is needed; that is, the novel concept of the “springingprotector.”

Following thepresentation, our speakers will engage in a live question and answer sessionwith webinar participants, directly answering their questions about thisimportant position in a trust.

Register today for thisnot-to-miss webinar!