Trusts are powerful estate and wealth planning tools—but they’re not immune to scrutiny. Whether from regulators, courts, or disgruntled beneficiaries, trustees can easily find themselves “under fire” if decisions aren’t made (and documented) with care. It is necessary to understand both the legal and tax risks to avoid hot spots in order to avoid the flames. This session considers both:
- Trustee obligations, with a particular focus on:
- Validity of documents and retaining original documents
- Fiduciary obligations; and
- Distribution considerations.
- Regulatory oversight, with a particular focus on:
- Anti-avoidance provisions
- Special considerations for testamentary trusts and in succession planning; and
- Avoiding disclosing information that may open the trustee up to disgruntled beneficiaries.
- Anti-avoidance provisions