Drafting Distribution Provisions in Trusts (Telephone)
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Distribution provisions are the most essential provisions of trust instruments – and risk lurks everywhere. If a trustee has unbounded discretion, he or she risks a “general power of appointment,” which would cause the trust’s property to be taxable to the power holder. But distribution standards – especially for “standard of living” or “emergencies” – are inherently susceptible to multiple interpretations and dispute, and potentially to litigation.

1/17/2018
When: Wednesday, January 17, 2018
12:00 PM - 1:00 PM CT

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MCLE Accreditation
Nebraska Activity #152689, 1.0 hours CLE (Distance Learning)

Distribution provisions are the most essential provisions of trust instruments – and risk lurks everywhere.  If a trustee has unbounded discretion, he or she risks a “general power of appointment,” which would cause the trust’s property to be taxable to the power holder.  But distribution standards – especially for “standard of living” or “emergencies” – are inherently susceptible to multiple interpretations and dispute, and potentially to litigation.  Ultimately, planning and drafting these provisions is an exercise in risk management and tradeoffs.  This program will provide you with a real world guide to planning and drafting distribution provisions in trust instruments, including the tradeoffs and risks.

  • Defining and drafting trust distribution standards
  • Risks of discretionary distributions – power of appointment, taxable inclusion, litigation
  • Cost/benefit of heavily detailed v. general distribution provisions
  • Understanding ascertainable distribution standards – health, education, maintenance, and support
  • Drafting sole and absolute discretion, emergencies, best interests, and standard of living
  • Tax considerations when making distributions
  • Fiduciary duty as standard overlaying all distribution decisions
Daniel L. Daniels is a partner in the Greenwich, Connecticut office of Wiggin and Dana, LLP, where his practice focuses on representing business owners, corporate executives and other wealthy individuals and their families.  A Fellow of the American College of Trust and Estate Counsel, he is listed in “The Best Lawyers in America,” and has been named by “Worth” magazine as one of the Top 100 Lawyers in the United States representing affluent individuals. Mr. Daniels is co-author of a monthly column in “Trusts and Estates” magazine.  Mr. Daniels received his A.B., summa cum laude, from Dartmouth College and received his J.D., with honors, from Harvard Law School.

To Register:Cost $89.00

https://ne.webcredenza.com/catalog.aspx?browse=ViewProg&catid=23451

  • Click on above link
  • Click “Login to add to cart” button at the bottom of the program page
  • This will take you to the log in page, FIRST time users will need to create a user name and password that is separate and distinct from any information you may have used for the Nebraska State Bar website
  • Please be sure to use the attorney name and contact information of the person who is to receive the CLE credit
  • Once completed click “Update & Proceed to Payment”
  • The final step is to click “Submit Payment”
  • At this point you will receive an email confirmation of the purchase
  • The day before the Program you will receive the dial in information and program materials
  • We will submit the program participation information to the Nebraska State Bar Association within 48 hours of the program completion

If you need additional information on your CLE credits please contact:
Amy Prenda, Nebraska State Bar Association
(402) 475-7091 ext # 131; aprenda@nebar.com