January 22, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
Trusts are meant to endure, but shifting circumstances can take a substantial toll on their assets, their tax and legal status, their ability to make distributions or even survive. The law may change in ways that adversely impact a trust. Beneficiaries may develop intractable conflicts that jeopardize the trust’s stability. Assets may underperform and the cost of administering a trust may make it uneconomical. In certain instances, too, trusts may just no longer have a purpose. In these and other circumstances, trustees, beneficiaries and their advisers struggle to find ways to reform or recast trusts to make them viable again or to dissolve them and distribute their assets. This program will provide you with a practical guide to the circumstances giving rise to trust reformation and practical techniques for fixing broken trusts.
Benjamin S. Candland, McGuireWoods, LLP,, Virginia