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Turbocharge Your Trust Forms: Non-Traditional Cutting Edge Trust Design Strategies To Improve And Protect Inheritors



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Given the trend that trusts are becoming more and more dynastic, problems have started to creep in as some of these older trusts begin to show their age and lack of flexibility. Indeed, the majority of trusts are income tax inefficient, as bad ideas continue to persist in drafting, e.g., ages and stages distribution provisions, tight incentive trust provisions, 5 and 5 powers, etc. In this session:

·        Learn the immutable truth about property in trust.
·        He’ll consider and discuss the inheritor’s pipe dream, and the number one reason why inheritors often switch estate planners!
·        Paul will review the six main desires of our clients—the so-called pipe dream (hint: they all want the same things).
·        How trusts can be safely drafted to give them almost all of just about all of what they desire.
·        He will explore language to be included in trusts that will turbocharge them with flexibility and ease of operation.
·        It’s Trustivus!!! Paul will cover the six main grievances that inheritors have with most trusts.
·        He will cover a number of other areas where Paul will review clauses covering a number of topics, including:
o   Allowing the independent trustee to add to existing trusts, form new trusts and add charitable organizations as permissible distributees.
o   The beneficial general power of appointment for basis bumps, ways to limit the general power of appointment and The Big Five Questions that one must answer in drafting a power of appointment.
o   Negating grantor trust status.
o   Independent Trustee’s discretion regarding distributions or permitted use of trust property.
o   The trust purpose clause and why it’s usually not helpful.
o   Precatory Guidance to the trustee regarding discretionary distributions.
o   Negating the duty of impartiality.
o   Waiving the prudent person rule.
o   The swap power.
o   Investing for total return; unitrusts.
o   Flexible spendthrift clauses.
o   QTIP information rights.
o   Divorce clause.
o   Floating spouse clause.
·        And much more!!!
 

Forms provided. Don’t miss this webinar!!!

 



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A native of Louisiana (and a double LSU Tiger), Paul Hood obtained his undergraduate and law degrees from Louisiana State University and an LL.M. in taxation from Georgetown University Law Center before settling down to practice tax and estate planning law in the New Orleans area. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law. The proud father of two Eagle Scouts and LSU Tigers, Paul has authored or co-authored seven books and hundreds of professional articles on estate and tax planning and business valuation.  He was with The University of Toledo Foundation for over four years as Director of Planned Giving, leaving in January 2018. He can be contacted at 

paul@paulhoodservices.com



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