The personal trust business is changing as the wealth of the boomer generation transfers to the next generation, new financial institutions provide personal trust services, and existing banks change and merge. Trust law is changing through widespread enactment of uniform laws such as the Uniform Trust Code and the Uniform Power of Attorney Act. In addition to these challenges, fiduciaries are confronting an increase in aggressive surcharge litigation, a toxic banking climate, and an historic recession and volatility in the financial markets. Add into the mix an unprecedented instability in the federal transfer tax laws, and fiduciaries and their advisors have their hands pretty full.
This live webinar will review recent fiduciary litigation cases from across the country to identify trends and learn lessons as fiduciaries and their advisors navigate present challenges.
Objectives:
The objective of this discussion include providing participants with a conceptual understanding and practical application of current trends in several areas of fiduciary law to be drawn from the following:
1. Trustee disclosure 2. Investment liability 3. Surcharge litigation 4. Special trust provisions 5. Trustee compensation and fees 6. Jurisdiction and limitations on claims 7. Trust modification 8. Tax uncertainty Educational Objectives: Upon completion of the program, participants will: A. Understand current trends in fiduciary law B. Understand emerging factors that aggravate fiduciary risk C. Identify practical techniques for managing fiduciary risk D. Identify practical techniques for avoiding litigation and handling litigation when it arises
Dana G. Fitzsimons Jr., Gerard G. Brew