Complimentary Webinar – Well-Being Trusts: Beyond Distribution Standards
July 9 @ 4:00 pm – 5:30 pm
Webinar Description
While trusts have always been created to protect beneficiaries, more can be done to help beneficiaries benefit from the wealth that is bequeathed not actually “to” them, but for them. So-called “Well-Being Trusts” are consistent with a growing trend to be more inclusive of what can – and perhaps should – be provided for beneficiaries of trusts, beyond just making distributions.
Delaware, as it often does, has lead the charge on this new approach to trust drafting and administration by enacting a new Well-Being Trust statue. It is an “opt in” provision that drafters can incorporate into new trust documents and include in existing trusts via decanting or non-judicial modification. In this webinar, the speakers will discuss the Delaware Well-Being Trust statute and the various issues it raises (not the least of which is potential trustee liability). Other important issues include:
- Income tax considerations, such as whether payment for programs for beneficiaries qualifies as a trust administrative expense or carries out DNI
- Using a letter of wishes
- Custom provisions practitioners might include
- Conflicts that could arise in some situations, such as if a beneficiary is addicted to drugs
- The need for mechanisms to change trustees and/or the terms of the trust.
- Please note that space is limited in the live broadcast, and we therefore recommend that you join early. Those connecting late may not be able to participate in the live event. However, if you find that you cannot connect, you will receive a link to the recorded version as soon as possible after the live presentation has concluded.
- If you are interested in an InterActive Legal Webinar but you are unable to attend the live event, we recommend that you register for the event anyway. After the presentation, all registered participants receive a link to the recorded version of the presentation to view at their convenience.
- Visit our website event page to learn more about what is happening at InterActive Legal.
Although everyone wants more wealth, history demonstrates that excess wealth can actually be an inhibitor of creativity and personal fulfillment. A Well-Being Trust can empower beneficiaries rather than restricting them, allowing trustees to focus on helping beneficiaries flourish in different ways. Regardless of the type of trust or jurisdiction involved, the ideas behind the Well Being Trust can help transform trust practice and administration.
Meet Our Speakers
Jonathan G. Blattmachr, Esq.
Editor in Chief and Co-Founder
InterActive Legal
Todd Flubacher, Esq.
Morris, Nichols, Arsht & Tunnell, LLP
Abigail O’Connor, JD
InterActive Legal Advisor
Martin M. Shenkman, Esq.
InterActive Legal Advisor
Webinar Tips
- After registering, you will receive a confirmation email containing information about joining the webinar.
- Please note that space is limited in the live broadcast, and we therefore recommend that you join early. Those connecting late may not be able to participate in the live event. However, if you find that you cannot connect, you will receive a link to the recorded version as soon as possible after the live presentation has concluded.
- If you are interested in an InterActive Legal Webinar but you are unable to attend the live event, we recommend that you register for the event anyway. After the presentation, all registered participants receive a link to the recorded version of the presentation to view at their convenience.
- Visit our website event page to learn more about what is happening at InterActive Legal.
Continuing Education Credits
InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.
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Estate Planning and Elder Law professionals turn to InterActive Legal as their main resource for the latest planning strategies. We provide the most comprehensive productivity system on the market with an easy-to-use document drafting system, extensive continuing education, thought-provoking discussion forums, and more.
