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Managing Fiduciary Duties Regarding Investment in Today's Economic Environment

Determine how to best structure a portfolio for a trust and avoid the red flags associated with claims by beneficiaries when performance lags.

Trusts and estate practitioners, including fiduciary litigators, commonly face potential claims that a client has diminished mental capacity, is subject to undue influence or may be subject to financial elder abuse. This topic will assist you in identifying the red flags to determine whether such issues are actually present, and if so, how to navigate the minefields for either refuting such claims if untrue or unsupported and thereby protect your client's proposed financial and estate planning actions. Or, if true, how to best help your client, and, at the same time, protect yourself from people who would seek to take advantage of your client. This content is thus critical to both transactional and litigations in the trusts and estate field.

Runtime: 88 minutes
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Prudent Person vs. Prudent Investor Standards

  • Analyzing Prudent Person Standard
  • Analyzing Prudent Investor Standard

Duty to Diversity

  • Duty to Diversify Is the Default Standard
  • Modification/Elimination of Default Standard in Trust Agreement
  • Directions From Beneficiaries

Dealing With Complex Assets

  • Closely-Held Business Interests
  • Real Estate Interests
  • Trustee-Conflicted Assets

Trustee Liability for Failure to Diversify

  • Failure to Diversity
  • Imprudent Diversification

Trustee's Ability and Duty to Delegate

Duty of Impartiality

  • Trustee Beneficiaries

Investment Performance

  • Relevance of Investment Performance
  • Documenting Investment Systems
  • Communication With Beneficiaries

Estate Planning Considerations

  • Know the Settlor's Intent
  • Drafting Techniques to Clarify Settlor's Intent
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on January 15, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

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Daniel W. Hatten

Proskauer Rose LLP

  • Associate in the Private Client Services Department and Fiduciary Litigation Group for Proskauer Rose LLP
  • Practice encompasses all aspects of estate and tax planning, estate and trust administration and fiduciary litigation
  • Primarily represents individuals in a wide variety of estate and financial planning issues including estate, gift and generation-skipping tax planning
Steven H. Holinstat

Steven H. Holinstat

Proskauer Rose LLP

  • Vice-chair of Proskauer Rose LLP’s Fiduciary Litigation Group, and is a senior counsel in Proskauer’s litigation department
  • Proskauer has received Tier One rankings for trusts & estates litigation by U.S. news rankings
  • Broad and diverse background in all aspects of high-stakes commercial litigation
  • He is one of the firm’s principal fiduciary litigators, is the lead litigator in a number of high net worth trust and estate matters, and has developed a reputation for being adept at intervening and resolving challenging interfamily disputes before they escalate into full-blown litigation
  • Aggressive and experienced trial lawyer; he has handled cases before federal and state courts around the country and numerous arbitrations before JAMS, the American Arbitration Association, the Financial Industry Regulatory Authority (formerly the National Association of Securities Dealers, or NASD) and the International Chamber of Commerce
  • Published articles and lectured domestically and internationally on topics in the field of fiduciary litigation
  • He is also a member of the Surrogate’s Court Committee of the NYS Bar Association, and the Litigation Committee of the NYC Bar Association
  • Can be contacted at [email protected] or 212-969-3104
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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.

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Product ID: 403968
Published 2019
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