Full, partial or no discretion … the trustee’s job for distributions can vary greatly.
One big part of a trustee’s job, and one that beneficiaries are particularly interested in, is the distribution that the beneficiaries will receive from the trust. The trust instruments describe the types of distributions that can be made and whether the trustee is required to make distributions or whether the trustee has discretion over the distributions. The distributions standards in a trust instrument have a greater impact than just governing when the beneficiary can receive the income. They also have tax implications for estate tax purposes. Watch this video for an explanation of the different levels of discretion and the different standards that apply, as well as the different types of beneficiaries.
Agenda
Faculty
Brian K. Janowsky
Schiff Hardin LLP
- Counsel in the Private Clients, Trusts and Estates group of Schiff Hardin LLP, based in the firm's New York office
- Counsels high net worth clients and business owners
- Implemented sophisticated lifetime and testamentary wealth transfer techniques and advised fiduciaries and beneficiaries in the administration of trusts and estates
- Frequent speaker on various estate planning topics
- J.D. degree, cum laude, Albany Law School; B.S.B.A. degree, University of Pittsburgh, College of Business Administration
- Can be contacted at 212-745-9534 or [email protected]
Jessica J. Birnbaum
Schiff Hardin LLP
- Attorney in the Private Clients, Trusts and Estates group in the Chicago office of Schiff Hardin LLP
- Practice emphasizes all aspects of estate planning, including wills and trusts, lifetime gift planning, estate administration, charitable planning, and trust modifications
- J.D. degree, magna cum laude, University of Pennsylvania Law School; B.A. degree, Northwestern University
- Can be contacted at 312-258-5559 or [email protected]
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- Live Webinars
- OnDemand Webinars
- MP3 Downloads
- Course Manuals
- Audio Recordings*
- Executive Reports
- White Papers and Articles
- Sponsored Live Webinars
Additional benefits include:
- State Specific Credit Tracker
- Members Only Newsletter
- All-Access Pass Course Concierge
* For audio recordings you only pay shipping
Questions? Call 877-296-2169 to speak with a real person.
More Program Information
Access to all training products $699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.