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EPI 2018: Decanting Trusts and Directed Trusts

In this practical program, Laura Zeigler and Phil Hayes discuss two popular and powerful estate planning tools: decanting trusts and directed trusts.

 

1.5 hours MCLE Credit, including 1.5 hours in Estate Planning and 1.5 hours in Estate, Gift Tax and Estate Planning

Join Laura Zeigler and Phil Hayes as they discuss decanting trusts and directed trusts.

Decanting Trusts 

Although there are many ways to modify irrevocable inter-vivos and testamentary trusts, one of the more popular tools is decanting. Decanting is considered to be the ultimate amendment power because it allows a single party, usually a trustee, to modify a trust without court involvement or beneficiary consent. 

Program Highlights:

  • Notice requirements
  • IRS position
  • Federal tax consequences
  • GST tax issues
  • Safe harbors
  • State and local taxing
  • Other pitfalls

Directed Trusts 

Directed trusts are more popular than ever. A directed trust bifurcates traditional trustee duties between the trustee and a third party fiduciary and protects the trustee from liability for following the direction of the third party fiduciary.

Program Highlights:

  • What is a directed trust?
  • Fiduciary duty of trust director
  • Duties of directed trustee
  • Powers of trust director
  • Uses of a directed trust
  • Hypotheticals

This program assumes considerable experience in estate planning.

This program is part of EPI 2018: The 40th Annual UCLA/CEB Estate Planning Institute.

On Demand ES54826-191

Live program recorded 4/20/18.

 

If you are signed in and a CLE Passport holder, your adjusted cost appears below.

$ 99.00

Join Laura Zeigler and Phil Hayes as they discuss decanting trusts and directed trusts.

Decanting Trusts 

Although there are many ways to modify irrevocable inter-vivos and testamentary trusts, one of the more popular tools is decanting. Decanting is considered to be the ultimate amendment power because it allows a single party, usually a trustee, to modify a trust without court involvement or beneficiary consent. 

Program Highlights:

  • Notice requirements
  • IRS position
  • Federal tax consequences
  • GST tax issues
  • Safe harbors
  • State and local taxing
  • Other pitfalls

Directed Trusts 

Directed trusts are more popular than ever. A directed trust bifurcates traditional trustee duties between the trustee and a third party fiduciary and protects the trustee from liability for following the direction of the third party fiduciary.

Program Highlights:

  • What is a directed trust?
  • Fiduciary duty of trust director
  • Duties of directed trustee
  • Powers of trust director
  • Uses of a directed trust
  • Hypotheticals

This program assumes considerable experience in estate planning.

This program is part of EPI 2018: The 40th Annual UCLA/CEB Estate Planning Institute.

PHILIP J. HAYES

Philip J. Hayes, Bessemer Trust, San Francisco, is Managing Director and Senior Fiduciary Counsel at Bessemer Trust. In this role, he is responsible for working with clients and their advisors to develop practical and efficient wealth transfer plans and for guiding the firm on fiduciary issues. Phil publishes and speaks frequently on transfer tax, fiduciary income tax, and trust administration. Phil earned a J.D. from the University of California, Hastings College of the Law.

LAURA K. ZEIGLER

Laura K. Zeigler, Bessemer Trust, Los Angeles, is a Principal in the Legacy Planning Group and Fiduciary Counsel. Prior to joining Bessemer in 2008, Ms. Zeigler was an attorney at Katten Muchin Rosenman LLP in Los Angeles practicing in the area of trusts and estates, charitable giving, and trust controversy. Ms. Zeigler earned an LL.M. in Taxation from Boston University School of Law and her J.D. from John Marshall Law School.

Products specifications
PRACTICE AREA Estate Planning
PRODUCT GROUP CLE
PRODUCT GROUP Digital
Products specifications
PRACTICE AREA Estate Planning
PRODUCT GROUP CLE
PRODUCT GROUP Digital