Print Page   |   Contact Us   |   Sign In   |   Register
Decanting and Otherwise Fixing Broken Trusts (teleseminar)
Register Tell a Friend About This EventTell a Friend
 

This program will provide you with a practical guide to techniques for fixing broken irrevocable trusts.

 Export to Your Calendar 6/23/2017
When: 06/23/2017
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781


Online registration is available until: 6/23/2017
« Go to Upcoming Event List  

 
One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
 
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

 
DECANTING AND OTHERWISE FIXING BROKEN TRUSTS, 1 CLE hour
 

Not every irrevocable trust ends up serving its intended purpose or is financially viable.  Many unforeseen events can occur – laws change, deep conflicts arise among beneficiaries, there’s deep downturn in the general economy or markets, or in an specific industry in which the trust is heavily invested.  In these and many other circumstances trusts are broken and need to be “fixed” – fiduciary powers adjusted, distributions balanced, trusts divided or merged, or even terminated early.  The process of accomplishing these fixes are necessarily limited and come with risks, including tax liability and potentially liability to future beneficiaries.  This program will provide you with a practical guide to techniques for fixing broken irrevocable trusts.

Why trusts become broken – beneficiary conflicts, changing law, changing economy/markets
Modifying irrevocable trusts – material v. non-material terms
Dealing with principal and income distribution issues and problems 
Merger and division of irrevocable trusts 
Early termination of trusts
Permissibility and practical uses of “decanting” broken trusts
Avoiding pitfalls – liability to future beneficiaries and tax concerns 

Speakers:
Benjamin S. Candland is a partner in the Richmond, Virginia office of McGuireWoods, LLP, where his practice focuses on estate planning, administration, estate and gift taxation, and litigation. He provides individual clients with advice on various estate planning matters involving estate, gift, and generation-skipping transfer taxes. He is a member of the ABA Real Property and Probate Section and the Virginia Bar Association Trusts and Estate Section. Mr. Candland received his B.A. from Brigham Young University and his J.D. from the College of William and Mary School of Law.

Stephen W. Murphy is an attorney in the Charlottesville, Virginia office of McGuireWoods, LLP, where his practice concentrates primarily on estate planning, trust and estate administration, real estate, and business law. He is a  lecturer-in-law at the University of Virginia School of Law where he teaches trust and estate administration and professor of law at Washington & Lee University School of Law where he teaches statutory interpretation.  Mr. Murphy received his B.A. from the University of Maryland, his M.Phil. from the University of Cambridge, his PhD from University of Virginia, and his J.D. from the University of Virginia School of Law.

 

Association Management Software Powered by YourMembership  ::  Legal