Webinar - Results Oriented Trusts: Balancing Settlor Intent with Beneficiary Needs

Overview

Wednesday, May 08, 2019 - 10:00am to 11:00am CDT

 

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 to encourage beneficiaries’ behaviors in their realms of work, charity and socially responsible choices. Often times beneficiaries feel guilty, embarrassed or even anxious about their trusts, compared to the stereotype of the entitled beneficiary. This webinar will provide insight on structuring trust documents to balance settlor’s intent with the needs of the beneficiary.   

Participants will learn:

  • The definition and purpose of a results-oriented trust
  • Trust design  to balance autonomy and accountability for beneficiaries
  • The use of guidelines vs. requirements in trust language
  • The integral role of family communication in the development of a good trustee-beneficiary relationship

 

 

***Those that attend this webinar and complete the conditions of participation are eligible to receive 1 hour of CPE credit.***

 

 

Event Sponsors

  • Speaker(s)

James Grubman, PhD, Family Wealth Consulting

Dr. Jim Grubman is a consultant to multigenerational families and their advisors about the issues that arise around wealth. He helps families establish healthy patterns of communication, governance, and parenting for succeeding generations. He is the author of the renowned book, Strangers in Paradise: How Families Adapt to Wealth Across Generations, and co-author (with Dennis T. Jaffe, Ph.D.) of Cross Cultures: How Global Families Navigate Change Across Generations. He has been published widely and quoted extensively by The Wall Street Journal, The New York Times, CNBC, and other media, including Malcolm Gladwell’s 2013 book, David and Goliath.  

Dr. Grubman holds Fellow status in the Family Firm Institute and the Purposeful Planning Institute, and he is a member of several U.S. and international estate planning organizations. He maintains specialty interests in neuropsychology and legal issues impacting wealth management. His global consulting practice, Family Wealth Consulting, is based in Massachusetts.

 

Richard Johnson, Partner, Waller Lansden Dortch & Davis, LLP

For nearly 30 years, large family‐owned and closely held businesses, high net worth individuals, family offices including their private family trust companies, and tax‐exempt organizations have sought out Richard Johnson to provide practical tax, business, and estate and trust planning solutions.

These clients rely on Mr. Johnson to provide practical tax and business planning solutions. Clients benefit from Mr. Johnson's vast experience with S‐corporations, LLCs, private trust companies, and partnership law which, when combined with strategic tax planning, helps minimize corporate and personal tax liabilities on both the state and federal levels.

Mr. Johnson organizes and advises private family trust companies in Nashville, Tennessee. He formed the first private family trust company under Tennessee law and has been responsible for forming more than half of Tennessee's private family trust companies. He helped draft new legislation updating Tennessee’s private trust company law, which greatly expanded the definition of a private family trust company to make Tennessee’s private trust company statutes more attractive than those in other states. The updated law now provides the family the option to allow the family’s business to own the private trust company as a wholly owned subsidiary.

Mr. Johnson works with wealthy individuals, families, and their family offices to structure their assets and ownership interests to keep wealth in the family and to foster the use of that wealth to perpetuate the family's values and purposes.