TELESEMINAR: Family Feuds in Trusts – A National Perspective
June 3, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
Feuds are endemic to trusts, which are often a volatile combination of family emotions, rivalries and resentments – and money. Disputes about the amount or timing distributions, control, investment priorities, or a perceived lack of communication can easily escalate into open dispute and costly litigation. Added to the complexity of these financial and administrative issues is the reality of new spouses, children from multiple marriages, and subtle but real feelings of unfair treatment. This program will provide you with a practitioner’s guide to identifying red flags in families before it’s too late to resolve them, counseling clients about methods to reduce the risk of dispute and litigation, special issues involving family businesses, drafting techniques and tips on working with warring family factions.
- Family feuds in trusts – sources of litigation and practical drafting and counseling techniques to reduce the risk of dispute and litigation
- Unequal distributions, control of family businesses, new spouses, children from different marriages, specific gifts
- Specific solutions for each problem – incentives in trusts, addressing inequality, “HEMs” standards, and more
- Trustee issues – family v. institutional representation and communications
- Special issues when a family business is held in a trust
- Use of Buy-Sell agreements to avoid disputes
- Practical tips on working with warring family factions and protecting yourself
Robert W. Benjamin, Wiggin and Dana, LLP, New York
Blanche Lark Christerson, Deutsche Bank Private Wealth Management, New York