Trustees and Beneficiaries

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Teaching Your Old Trust New Tricks
Northern Trust
Simply because the instrument governing your trust states that it is irrevocable and cannot be amended does not mean it cannot be modified to serve your family’s needs and changing
Special Purpose Entities (SPEs) May Now Serve as Trust Advisors in Tennessee
Aaron Flinn, Waller Lansden Dortch & Davis
Recent statutory changes in Tennessee law has authorized the separation of the traditional trustee roles by allowing for the appointment of a Trust Advisor (also referred to as a Trust Protector) who
Results Oriented Trusts: Balancing Settlor Intent with Beneficiary Needs
More and more families are looking to ensure that their philosophy and values align with their goals in creating trusts. A results-oriented trust is one that has been particularly designed as a tool
U.S. Reporting Checklist for Foreign Trusts
Jennie Cherry and George N. Harris Jr., Kozusko Harris Duncan
Trusts classified as foreign for U.S. tax purposes, whether established under the law of a U.S. state or of an offshore jurisdiction, must review whether they have any U.S. tax or information
Charitable Remainder Trusts
Hawthorn, PNC Family Wealth
The creation of a charitable remainder trust can provide you with a lifetime income stream while helping fulfill legacy goals of supporting charitable organizations that are important to you. There
Spinning Straw into Gold: Modifying Irrevocable Trusts
Sarah Chang and Scott Bieber, Thompson Coburn
 Irrevocable trusts have been part of estate planning for years. They have been used for a variety of purposes, such as to remove assets from a person’s estate in order to reduce
U.S. Supreme Court to Hear Kaestner Trust Tax Nexus Case
RSM US
The U.S. Supreme Court will revisit state tax nexus for the second year in a row after granting North Carolina’s petition for certiorari in North Carolina Department of Revenue v. The Kimberley Rice
Delaware Directed Trusts
Hawthorn, PNC Family Wealth
Families with complex assets, such as family businesses, as well as those who have portfolios managed by multiple advisors, may find trustees reluctant to administer their trusts. This is because, in
Choosing the Right Trustee
Robert G. Holdway, Fiduciary Trust Company
Whether it be a family member, trusted friend, or professional advisor, whom you pick as a trustee matters. An ideal trustee will follow through on the objectives outlined during your lifetime, your
The Risks of Serving as an Amateur Trustee for Your Family
Warner Norcross & Judd LLP
Although it is flattering to be asked to be a trustee, you should give careful consideration about serving in this important role, as performing the responsibilities of a fiduciary can expose you to