Continuing Legal Education

Fiduciary Risk and Ethical Challenges (CHICAGO)

November 7, 2012
2:00 – 4:00 p.m.
2.00 MCLE hours, including 1.25 Professional Responsibility MCLE credit hours (PMCLE credit subject to approval)
Presented by Trusts and Estates

Chicago
ISBA Chicago Regional Office
20 S. Clark St., Suite 900
(map and directions)

Join us for a discussion that explores the scope of the lawyer’s fiduciary
and ethical boundaries when representing the fiduciary!

This program qualifies for CPE credit*

Learn to manage fiduciary risk with this comprehensive discussion on the ethical challenges facing the lawyer and financial advisor who acts as fiduciary, as well as those who represent the fiduciary. Attorneys, financial advisors, and certified public accountants who attend this seminar will gain a better understanding of:

  • The required duties of trustees, executors, and personal representatives;
  • How to appoint or remove a fiduciary from office;
  • The fiduciary duties of the trustee;
  • The red flags and ethical challenges that may arise when representing a fiduciary; and
  • The scope of the lawyer’s fiduciary.
Please Note: Prior to the program, you will receive a weblink via email allowing you to access the course materials prior to the program. You will also receive a copy of the course materials (for no additional charge) when you arrive at the program, but will need to check the appropriate box on the registration page letting us know if you prefer a flash drive or printed course book.

 

Program Coordinators:
David A. Berek, Handler Thayer LLP, Chicago
Tracy S. Dalton, Harris MyCFO , Chicago

Program Moderator:
Tracy S. Dalton, Harris MyCFO , Chicago

 

Agenda

2:00 – 2:15 p.m.  What is the Role of the Fiduciary?
Discover the differences in the required duties of trustees, executors, and personal representatives, as well as how a fiduciary is appointed and removed from office.
Deborah B. Cole, Hoogendoorn and Talbot, LLP, Chicago

2:15 – 2:45 p.m.  Fiduciary Duties of a Trustee
Gain a better understanding of the trustee’s fiduciary duties with this informative segment. Topics include: Duty of Loyalty, Duty of Impartiality, Duty to Disclose and Account, Duty to Exercise Reasonable Care and Skill, Duty to Take and Keep Control of Trust Property, Duty to Preserve Trust Property, and the Duty to Diversity.
Deborah B. Cole, Hoogendoorn and Talbot, LLP, Chicago
Thayer J. Herte, Sr. Vice-President, National Director of Fiduciary Education, Chicago

2:45 – 3:15 p.m.  Red Flags and How to Address Them**
Learn how to handle special/problematic assets, work with difficult/recalcitrant co-trustees, and avoid conflicts of interest with this comprehensive discussion. Additional topics include lack of liquidity and disputes arising from the documents themselves.
Deborah B. Cole, Hoogendoorn and Talbot, LLP, Chicago
Thayer J. Herte, Sr. Vice-President, National Director of Fiduciary Education, Chicago

3:15 – 4:00 p.m.  What is the Scope of the Lawyer’s Fiduciary and Ethical Boundaries when Representing the Fiduciary?**
This presentation explores the scope of the lawyer’s fiduciary by examining the American Bar Association’s Model Rules of Professional Conduct, including Scope of Representation and Allocation of Authority Between Client and Lawyer (Rule 1.2); Communications (Rule 1.4); Confidentiality of Information (Rule 1.6): and Conflicts of Interest: Current Clients (Rule 1.7).
Deborah B. Cole, Hoogendoorn and Talbot, LLP, Chicago
Thayer J. Herte, Sr. Vice-President, National Director of Fiduciary Education, Chicago
 

*The Illinois State Bar Association is approved by the Illinois Department of Financial and Professional Regulation as a registered public accountant continuing professional education (CPE) sponsor.

**Professional Responsibility MCLE credit subject to approval.