CENTRAL ARIZONA ESTATE PLANNING COUNCIL

Thank you to our sponsor!

Topic: Just Because You Can, Doesn't Always Mean You Should: Directed Trusts, Trust Modifications, and Silent Trusts 

Speaker: David A. Diamond

This discussion will focus on some of the fiduciary considerations and concerns relating to using the flexible laws of various jurisdictions.  It will cover topics including trust modifications, silent trusts, and directed trusts. The presentation covers various statutes, providing detail on the statutes and the related statutory citations, provides a history of the use of the statutes, and focuses on how these statutes might be used in a way that has drifted from the initial intention of the statutes.

FIVE LEARNING OBJECTIVES

1. Over recent years trust laws of many states, including Arizona, have been modernized to become more flexible.  Examples of this include: quiet trusts; trust modifications through nonjudicial statutory agreements and modifications, decanting, and other methods; and directed trusts.
2. Professionals should consider when they might be using these too statutes and techniques in a manner that might not be appropriate.
3. Practitioners should advise their clients on the ways to communicate with beneficiaries, rather than the client focusing solely on withholding information from beneficiaries.
4. Modifications may have collateral (intended or unintended) consequences, including tax, changes in beneficial interests, and creating situations that make the trust more difficult to administer.
5. Directed trusts might be used in a manner that makes it difficult for the trustee to fulfill the direction.

Dave is the President of The Northern Trust Company of Delaware, a Delaware limited purpose trust company in Wilmington, Delaware. Prior to managing Northern’s Delaware office, he served as the National Trust Specialist for Northern, developing client solutions involving Northern’s Nevada and Delaware trust capabilities. He is Chair of the Board of Directors for The Northern Trust Company of Delaware and on the Board of Directors for Northern Trust Cayman International and The Northern Trust Company of Nevada. Prior to joining Northern, Dave was an attorney with Gordon, Fournaris & Mammarella (GF&M), where he focused on the unique aspects of Delaware trust law. Prior to practicing law with GF&M, Dave was with J.P. Morgan for 25 years. There he began his career as a trust officer and ultimately served as Managing Director & President of J.P. Morgan Trust Company of Delaware.

Valet service will be provided. Gratuity appreciated.

RSVP must be received by 12:00 p.m. on TUESDAY, January 21, 2025. Registration will close at this time.

Live streaming is not available for this program meeting.

Submitting an RSVP for this event implies your agreement to the following COVID-19 policy.

Fixed Dinner Menu

SALAD

Mixed Field Greens, Strawberries, Walnuts, Jicama, Goat Cheese, Raspberry Vinaigrette (Vegetarian, Gluten Free)

ENTREE

Mesquite Grilled Chicken Breast Marinated with Herbs and Spices (Gluten Free, Nut Free, Dairy Free)

Yukon Gold Whipped Potatoes (Gluten Free, Nut Free)

Grilled Seasonal Vegetables with Olive Oil and Fresh Herbs (Vegetarian, Gluten Free, Nut Free, Dairy Free)

DESSERT

Chef’s Selection of Arizona Inspired Petite Sweets (Vegetarian)

Schedule

• 5:00 p.m. Happy Hour, Tours of Ballet Arizona
• 5:30 p.m. Ballet Arizona Performance
• 5:45 p.m. Dinner
• 6:30 p.m. Program
• 7:30 p.m. Program Concludes

Thank you to our sponsor!

Attendees understand and agree that their contact information may be shared with the event sponsor(s).

EVENT CONDUCT STATEMENT

The Central Arizona Estate Planning Council (“CAEPC”) is committed to providing all participants at our events with an inclusive and professional environment where they feel comfortable. These events include but are not limited to: educational programs and supplemental activities or programs included as a part of these events; webinars; and virtual and in-person board and committee activities and meetings; or presentations before local councils or to other organizations when speaking on behalf of CAEPC. Participants, who include attendees and their guests, volunteers, vendors, staff, and all others, are expected to conduct themselves in a manner that is welcoming, respectful and free from any form of discrimination, harassment, or retaliation. Disruptive or harassing behavior of any kind will not be tolerated. Participants asked to stop such behavior are expected to comply immediately. In keeping with our commitment to the health and safety of all participants, those who feel ill are asked not to attend in-person events or face to face activities. In the event that a participate feels unwell mid-conference, he/she/they are asked to refrain from attending any portion of the conference that includes face to face activities.

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