Irrevocable Trusts in Practice: Drafting Strategies, Sample Provisions, Key Language, and Fiduciary Risk Management (Including 1hr. on Ethics)

Jonathan G. Blattmarchr | Pioner Wealth Partners LLC

Jonathan G. Blattmachr is Director of Estate Planning for Peak Trust Company (formerly Alaska Trust Company) and a Director/Principal of Pioneer Wealth Partners, LLC in a boutique wealth advisory firm located in Chicago and New York. He is a Principal at Interactive Legal Services Management, LLC, serving as its Editor-in-Chief and Co-Author of its cornerstone products, Wealth Transfer Planning™ and Elder Law Planning™ and a retired member of Milbank (formerly Milbank Tweed Hadley & McCloy LLP) and of the New York, Alaska and in California bars. He is recognized as one of the most creative trusts and estates lawyers in the country and is listed as The Best Lawyers in America in. He graduated from Columbia University School of Law, cum laude, where he was recognized as a Harlan Fiske Stone Scholar.

He has written and lectured extensively on estate and trust taxation and charitable giving and is author or co-author of nine books and more than 500 articles on estate planning and tax topics. Jonathan was on active duty in the US Army from 1970 to 1972, rising to the rank of Captain and was awarded the Army Commendation Medal. He is an instrument rated land and seaplane pilot and a licensed hunting and fishing guide in the Town of Southampton, New York.

Thomas Tietz | Shenkman Law

Thomas A. Tietz, JD, is an attorney with Shenkman Law in private practice in New Jersey and New York.

He is experienced in assisting with the implementation of numerous facets of an estate plan. This includes the preparation of core documents such as wills, health care documents (living wills, health care proxies), financial power of attorneys, etc., as well as advanced planning such as the preparation of spousal lifetime access trusts, Grantor Retained Annuity Trusts, self settled Trusts, and transactions regarding asset transfers to those trusts, depending on the client’s needs. In addition to estate planning, he assists clients with the administration of their trusts, estate administration, and assisting with corporate documentation in relation to estate planning, such as addressing entity governing documents considerations regarding value adjustment clauses that apply due to transactions involving trusts and other complex entity ownership.

He is the author of more than 20 articles and has published articles with institutions including the American Bar Association E-Report, the National Association of Estate Planning Council’s Journal of Estate and Tax Planning, Steve Leimberg’s Estate Planning Newsletter, Wealthmanagement.com, and Trusts & Estate Magazine.

He has lectured at the Notre Dame Tax & Estate Planning Institute, for the New Jersey State Bar Association, the New Jersey Institute of Continuing Legal Education, CPA Academy, the Bergen County Estate Planning Council, the National Academy of Continuing Legal Education, and numerous other institutions.

He is a member of the American Bar Association’s Real Property, Trust, and Estate Law and Business Law sections, the New York State Bar Association, the New Jersey State Bar Association, and the Bergen County Estate Planning Council.

Session I – Trusts and Taxes: Drafting Strategies, Sample Provisions, and Key Language for Modern Estate Plans | 12:30pm – 2:10pm

• First, it will cover some of the tax advantages and disadvantages of using trusts to safeguard property and build wealth
  Second, it will briefly focus on protection of a family’s wealth by using trust
• Third, it will discuss how flexibility in disposition of wealth is of supreme importance in carrying out a family’s goals for its members, keeping in mind that attitudes toward diversification in our ever-changing world are developing more quickly than ever before in human history

Break | 1:30pm – 1:40pm

• How to draft a revocable trust
• Sample trust documents
• Key language that should be included in trusts
• Common issues that arise when trusts are not drafted properly

Session II – Drafting and Administering Irrevocable Trusts: Fiduciary Risk, Contested Matters, and the Road to Resolution | 2:10pm – 3:10pm

• A synopsis of curated considerations during each phase of an irrevocable trust
• A review of the types of state law fiduciary duties that the trustee of an irrevocable trust must observe
• Selected issues that a trustee must face in a contested trust

Break | 3:10pm – 3:20pm

Session III – Legal Ethics in Irrevocable Trusts| 3:20pm – 4 :20pm

• A synopsis of curated considerations that arise during the formation and administration of an irrevocable trust for complex families, e.g., so-called “blended families.” and will address pertinent rules in the Model Rules of Professional Conduct
• (MRPC), including without limitation, MRPC Rules 1.1, 1.2, 1.7-1.9, 4.3, and 5.1
• A review of the types of state law fiduciary duties that the trustee of an irrevocable trust must observe
• Selected issues involving the oversight of all fiduciaries of an irrevocable trust, including agents under the property powers of attorney, trustees (including co-trustees) and trust protectors