Basics of Trust Administration

• Overview
• Agenda
• Faculty
• Credits

Benefits

This teleconference will provide an overview of basic principles of trust administration under U.S. law, including powers and duties of trustees; relations with beneficiaries; removal and replacement of trustees; the use of directed trustees, protectors and investment managers, etc., to 'slice and dice' trustee powers; probate court involvement in trust administration; and concepts in fiduciary accounting and income tax reporting. The materials and the speaker will focus on general concepts and principles shared by the laws in most U.S. states with some examples of the considerable deviations that written trust instruments can make from state law. The materials will provide citations to the Uniform Trust Code and to the laws of two non-UTC states (New York and Indiana) to illustrate each general principle or issue.

This teleconference will be a useful introduction to trust administration principles or a refresher course in those principles for professionals who will begin working or will work more with trusts, or who may be called upon to advise clients about the design and drafting of trusts and the selection of trustees.