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Practical Issues in Using Trust Protectors, Including What Advisors Need To Know About Drafting Trust Protector Provisions: Powers, Duties, Liabilities, Rights & Fiduciary Issues



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Recording and Slides are Available Here


It’s no secret that the idea of using a protector in our trusts has taken hold on a broad scale here in the United States, and the reasons are clear.  A trust protector can be given the power to adjust the trust provisions to accommodate unanticipated changes in family or beneficiary circumstances, changes in the law, and even drafting errors and omissions, all without the need for court proceedings. 

And what about a decanting? Can the Protector be given the power to decant to a completely new trust? Are special provisions required? The problem is that drafting attorneys have been readily utilizing the protector with virtually no substantive U.S. case or statutory law to guide them.  Thus it is often a matter of guess work, as, for example, when faced with questions such as who should be the protector, what powers should or may the protector be given? Is there any limit? And perhaps the biggest mystery of all, is the protector a fiduciary?  And even if that is the case, can all his or her responsibilities simply be drafted away?

For insight into these questions, and more, be sure to join Alexander Bove, Jr., in his 60 minute LISI webinar titled "Using the Trust Protector to Decant, and Other Creative Ideas" on November 16th @ 3pm ET. During his webinar, Alexander will analyze and expand on the role of the protector, with emphasis on the question of decanting and asset protection, and the important drafting issues to consider when using a protector in your trusts. During his webinar, Alexander will cover some of important issues raised by the use of protectors, including:
 



Note:There will be no CE for this webinar.

 

    • The various roles of the protector;
    • Selection of the protector;
    • Powers to consider giving the protector;
    • Tax consequences of powers;
    • Fiduciary vs non-fiduciary status;
    • Using a protector to decant;
    • Using a protector to effect an in-terrorem clause in a non in-terrorem state;
    • When to use a springing protector;
    • Drafting considerations;
    • And any questions you might have;


There will be no CE for this webinar


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Alexander Bove is an internationally known and respected trust and estate attorney with over thirty-five years of experience in the field of trusts and estates. He is Adjunct Professor of Law, Emeritus, of Boston University Law School Graduate Tax Program, where he taught estate planning and advanced estate planning for eighteen years. In 1998 he was admitted to practice as a Solicitor in England and Wales, and in 2013, he earned his Ph.D. in Law from the University of Zurich. His practice encompasses domestic and international estate planning and asset protection planning, and he is regularly consulted by attorneys and other professionals on issues relating to cross-border estate planning in such jurisdictions as the UK, Italy, Germany, and France, among others. Mr. Bove has lectured at the annual Heckerling Tax Institute, the annual meeting of the American College of Trust & Estate Counsel (ACTEC), the Association of Advanced Life Underwriters (AALU), the Million Dollar Round Table (MDRT), The Top of the Table, the Annual Notre Dame Estate Planning Institute, the Southern California Estate Planning Institute, and The International Academy of Estate and Trust Law. Mr. Bove was named in ?The Best Lawyers in America, Trusts and Estates? for 2012 ? 2014 and was elected to the National Estate Planning Hall of Fame in 2014. He has published seven books and over 1,000 articles on trust and estate-related topics. One of his books, The Complete Book of Wills, Estates and Trusts, published by Holt, NY, has over 100,000 copies in print. His latest book, Trust Protectors ? A Practice Manual with Forms is available for order through Juris Publishing


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