Fixing a Broken Trust

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On-Demand Video
Online
---------- CLE 3 sub/0 eth PRICE Regular: $139.00
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About

Has your client’s trust become unworkable?

Trusts can “go bad” for many reasons. Some are problematic from the outset, such as trusts prepared by a trust-mill with no attention paid to the particular needs of the trust’s beneficiaries. Others may become defective over time, their stated purpose no longer matching the beneficiaries’ changing needs. Trust assets may have dwindled to the point that costs of maintaining the trust exceed its benefits. The trustee could be unsuitable, whether due to the trustee’s failure to respond to the legitimate needs of the beneficiaries, investing the assets inappropriately, or becoming unable to handle the duties of trust administration.

Find solutions for trust-related problems

How can the Pennsylvania Uniform Trust Act help fix these and other trust-related problems that estate and elder law attorneys frequently encounter? Learn about the judicial and non-judicial modification or termination of revocable and irrevocable trusts, the division of trusts, equitable deviation, identifying necessary parties and the representation of parties, decanting, the removal of trustees, and related income, gift, estate, and GST tax implications of using these techniques. You’ll come away with forms, checklists, and other resources that you can put to immediate use in your practice.

Use the Uniform Trust Act for guidance

Our experienced faculty will explain how the UTA can help fix trusts that are “broken” for some reason by focusing on:

  • using non-judicial settlement agreements to modify or terminate trusts
  • modifying or terminating irrevocable trusts by consent
  • identifying who are necessary parties among settlors, trustees, and beneficiaries
  • virtual and actual representation of parties
  • “no fault” removal of trustees
  • using the reporting and notice provisions of the UTA as a preventive measure that can avoid a break between trustees and beneficiaries

Faculty

No speakers have been associated with this event.
Faculty may vary by location.
PBI reserves the right to substitute speakers at all programs.
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