BBA Event Recap: Discretionary Distributions from an Irrevocable Trust

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Program Title: Discretionary Distributions from an Irrevocable Trust: How much discretion does the trustee have? It depends….

Program Date: Wednesday, December 16, 2015

Panelists: Peter M. Shapland of Day Pitney LLP and Stacy K. Mullaney of Fiduciary Trust,

Program Sponsor: Peter M. Shapland of Day Pitney LLP and Stacy K. Mullaney of Fiduciary Trust, co-Chairs of the Trust Administration Committee

Materials:  To view the program materials, click on each of the following links: Handout 001, Handout 002, Handout 003, and Handout 004

Summary of Program Topic:  The panelists discussed discretionary distribution standards and factors that trustees must consider in responding to beneficiary requests for distributions.  The conversation included: (I) what analysis is required under certain distribution standards; (ii) the purpose and intent of the settlor; (iii) when should a beneficiary’s financial resources be considered; and (iv) what duty does the trustee have to consider the future needs of the current beneficiary and/or the needs of successor and remainder beneficiaries.