Posts Categorized: Program Recap

BBA Event Recap: When A.R.T. is the Issue: The Impact of Assisted Reproductive Technologies on Estates and Probate

Program Title: When A.R.T. is the Issue: The Impact of Assisted Reproductive Technologies on Estates and Probate

Program Date: Tuesday, November 20, 2015

Panelists: Lisa M. Cukier, Esq. and David Raymon, Esq., both of Burns & Levinson LLP

Program SponsorsFamily Law Section, Health Law Section, Estate Planning Committee

Materials:  To view the program materials, click here.

Summary of Program Topic: The panelists discussed assisted reproductive technologies and its impact on estate planning, family law and probate.  During their presentation, the panelists reviewed statutes and case laws that control ownership of genetic material, what constitutes parentage and how to dispose of embryos in estate plans.

Practice Fundamentals Series: Basic Estate Planning Documents I: Will, Introduction to the Revocable Trust, Power of Attorney and Health Care Proxy

Program Date: Wednesday, December 2, 2015

Panelist: Melissa E. Sydney, Esq., of Burns & Levinson LLP

Program Chairs: Anne L. Warren of Brown Brothers Harriman & Co.,   Tamara Lauterbach Sturges of Egleson & Sturges, LLC, and Heidi Seely of Rackemann, Sawyer & Brewster, P.C.

Materials: Click HERE  for panelist’s handout.

Program Topic:  The speaker provided an introduction to basic estate planning documents.  She reviewed the key components of wills, health care proxies, durable powers of attorney, and touched on the basics of revocable trusts.  The speaker also provided drafting suggestions and advice on avoiding certain pitfalls when advising clients about their estate plan.

BBA Event Recap: Discretionary Distributions from an Irrevocable Trust

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.

BBA Event Recap: Serving as Trustee of a Special Needs Trust

Program Title: Serving as Trustee of a Special Needs Trust – What Lawyers Need to Know to Act as Trustee or Advise Clients Who Serve as Trustees

Program Date: Tuesday, November 17, 2015

Panelist: Ken W. Shulman of Day Pitney LLP

Program Sponsors: Rebecca J. Benson of Margolis & Bloom LLP and  Gary Zalkin of Zalkin Law Firm PC, co-Chairs of the Elder and Disability Law Committee; 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 here.

Summary of Program Topic:  The panelist discussed the duties and responsibilities of managing a Special Needs Trust, including managing assets, dealing with beneficiaries (and their family members), preserving eligibility for public benefit programs, making distributions and staying out of trouble. The program also addressed the ethical issues that arise when drafting attorneys name themselves as trustees.

Practice Fundamentals Series: Estate, Gift and GST Tax Basics for the New Estate Planner

Program Date: Wednesday, November 4, 2015

Panelists: Susan A. Robb of First Republic Bank and Danielle R. Greene of Loring Wolcott & Coolidge Trust

Program Chairs: Anne L. Warren of Brown Brothers Harriman & Co.,   Tamara Lauterbach Sturges of Egleson & Sturges, LLC, and Heidi Seely of Rackemann, Sawyer & Brewster, P.C.

Materials: Click here for panelists’ handout.

Program Topic:  Panelists provided an introduction to the estate, gift and generation-skipping transfer taxes.  The program content included a review of the key components of each tax, how the taxes related to one another, and context of the relevancy of each tax for purposes of preparing an estate plan.

Estate Planning Brownbag Series: When a Trust Owns Real Estate — Common Issues That Cause Problems With Title And How To Avoid Them

Program Date: Thursday, October 22, 2015

Panelist: Ward P. Graham, WFG National Title Insurance Co.

Program Chairs: Kerry L. Spindler, Goulston & Storrs PC  and Sara Goldman Curley, Nutter McClennen & Fish LLP, co-Chairs of the Trusts & Estates Section’s Estate Planning Brownbag Series

Materials:  To view the program materials, click on each of the following links:

Handout 1

Handout 2

Handout 3 (part 1)

Handout 3 (part 2)

Summary of Program Topic:  The program covered common issues causing problems with titles of property coming out of a trust, including termination of the trust, and changes in trustees.  The program also sought to clarify the function of a Trustee’s Certificate under MGL c. 184, § 35, and how it can and cannot be used.  The objective of the program was to allow attendees to identify and deal with common issues that affect title to real estate held in trust and the transfer or disposition of the real estate from the trust, and to allow attendees to better plan for trusts owning real estate.

Practice Fundamentals Series: Managing Your Practice – Forming an Estate Planning Practice and Engaging New Clients

Program Date: Wednesday, October 7, 2015

Panelists: Tiffany O’Connell of O’Connell Law, LLC, and Tamara Lauterbach Sturges of Egleson & Sturges, LLC

Program Chairs: Anne L. Warren of Brown Brothers Harriman & Co.,   Tamara Lauterbach Sturges of Egleson & Sturges, LLC, and Heidi Seely of Rackemann, Sawyer & Brewster, P.C.

Materials: Click here for panelists’ outline.

Program Topic:  Panelists discussed the different methods of setting up an estate planning practice, including practice management software, drafting templates, benefits of drafting software, marketing, networking and building a client base.

Estate Planning Brownbag Series: Introduction to the Uniform Fiduciary Access to Digital Assets Act

Program Date: Friday, September 25, 2015

Panelist: Colin Korzec, Esq., Managing Director and Estate Settlement National Executive, U.S. Trust, Bank of America Private Wealth Management

Program Chairs: Kerry L. Spindler, Goulston & Storrs PC  and Sara Goldman Curley, Nutter McClennen & Fish LLP, co-Chairs of the Trusts & Estates Section’s Estate Planning Brownbag Series

Materials:  To view the program materials, click here.

Additional Resources: A link to the Revised Uniform Fiduciary Access to Digital Assets Act can be found here.

Summary of Program Topic: As the number of digital assets held by the average person increases, questions surrounding the disposition of these assets upon death or incapacity are becoming more common.  Few laws exist on the rights of fiduciaries over digital assets and few individuals consider the fate of their online presences once they are no longer able to manage their digital assets.

The situation regarding fiduciaries’ access to digital assets is unclear, and even fiduciaries who believe they have been granted access to digital assets may inadvertently run afoul of uncoordinated probate, privacy and computer hacking laws.  To the extent that there is existing legislation, such laws are disparate and differ with respect to the types of assets covered, the rights of the fiduciary, the category of fiduciary covered, and whether death or incapacity are covered.

The Uniform Law Commission has promulgated the Uniform Fiduciary Access to Digital Assets Act, which is intended to create a uniform approach among states so as to increase certainty and predictability for courts, account holders, fiduciaries and internet service providers.  Many states, including Massachusetts, are considering adoption of the uniform statute.  This program discussed the substance, pros, cons, evolution and controversies surrounding the statute.

 

Program Recap and Materials: Administration of “Unfunded” Irrevocable Life Insurance Trusts From the Trustee’s Point of View

Program Date: Wednesday, October 28, 2015

Panelist: Amiel Z. Weinstock, Thomas Brady & Associates

Program Chairs: Peter M. ShaplandDay Pitney LLP  and Stacy K. Mullaney, Fiduciary Trust Company, Boston, co-Chairs of the Trust Administration Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  The program reviewed the fiduciary responsibilities of a trustee of an “unfunded” irrevocable life insurance trust (“ILIT”).  The panelist discussed obvious trustee responsibilities (Crummey notices, timely payment of premiums and the like) and not-so-obvious responsibilities to monitor the performance of the particular policy (investment performance and performance in comparison to illustrations provided at time of purchase, and review of the financial strength of the issuing insurance company).

What’s New In the World of Fiduciary Litigation

The program, What’s New In the World of Fiduciary Litigation, held on Thursday, February 27, 2014 and sponsored by the Fiduciary Litigation Committee of the Trusts and Estates Section provided an overview of recent decisions of note issued by the Massachusetts courts on topics related to fiduciary litigation. Please click here for the event materials.