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Opportunities and Drawbacks of Directed Trusts

Gain a better understanding of directed trusts, how they are created, and what they are intended for.

Directed trusts are being used to add flexibility in administering a trust. In a directed trust, a trust protector, co-trustee, or other fiduciary may direct the trustee to perform certain actions to facilitate trust administration. As the laws surrounding directed trusts have evolved significantly, this topic will allow the practitioner to understand the uses of directed trusts and the advantages and pitfalls of such use.

Runtime: 89 minutes
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Over 32 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

What Is a Directed Trust

  • Definition
  • Third Restatement
  • Uniform Directed Trust Act

How Are Directed Trusts Created

  • Drafting New Trust
  • Modifying an Existing Trust
    • Decanting
    • Exercising of Power of Appointment
    • Modifying Trust

Circumstances to Consider Directed Trusts

Common Directed Trust Provisions

Advantages of Directed Trusts

Disadvantages of Directed Trusts/Areas of Concern

  • Fiduciary Duties
  • Standards of Liability
  • Impact on Trust Administration

Case Studies

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Why Lorman?

Over 32 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 Webinar

This course was last revised on November 7, 2019.

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

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

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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More Program Information

Why Lorman?

Over 32 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

Stacey Prince-Troutman

Stacey Prince-Troutman

Akerman LLP

  • Partner in the Orlando office of Akerman LLP
  • Focuses her practice on administering estates and trusts; planning for wealth transfer and transfer tax minimization; drafting documents related to the formation, management, and succession of closely held entities; asset protection planning; and forming and obtaining tax exempt-status for 501(c)(3) charitable organizations
  • Named to Florida Trend magazine’s Legal Elite list, 2016, and in Super Lawyers magazine as Rising Star, 2010 – 2012
  • LL.M degree in taxation, University of Florida Levin College of Law; J.D. degree, cum laude, University of Florida Levin College of Law; B.S.B.A. degree, magna cum laude, University of Florida
  • Can be contacted at 407-423-4000 or [email protected]
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Why Lorman?

Over 32 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.

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Product ID: 404746
Published 2019
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