Subtrust Allocation for Litigation Attorneys

During this presentation, Judge Glen Reiser (Ret.) will discuss various critical aspects of subtrust funding as part of the trust administration process. Often, upon a first death of a spouse and, at times, upon the death of the second spouse to die or a single person, the subject trust includes requirements and guidance for administering the trust regarding the allocation of assets to various subtrusts for the benefit of one or more beneficiaries. As we are seeing it more and more in the courts and mediation, subtrust allocation decisions by a trustee can turn into having to defend a claim against such trustee for failure to, among other things, collect assets and obtain date of death values, property manage assets, and fairly allocate assets among subtrusts in accordance with the terms of the trust. The presentation will cover important concepts such as a trustee?s administrative duties, marital deductions, pro-rata allocation of assets, community property and separate property characterizations, gift and estate taxes, and portability, all in light of trust litigation. Judge Glen Reiser (Ret.) will teach these concepts by reviewing trust provisions and discussing hypotheticals and relevant recent case law. Litigators, trust administration lawyers, and estate planning lawyers will all benefit from attending this presentation to better allocate assets to subtrusts, lower the likelihood of litigation, and successfully complete the trust administration process.