Managing Disbursement Challenges in Trust Administration: Fiduciary Responsibilities and Legal Considerations

This program provides invaluable insights into the complexities of managing disbursements within trust administration, with a focus on special needs trusts. Delving into the intricacies of fiduciary responsibilities and legal considerations, this resource equips trustees and administrators with strategic approaches to efficiently navigate disbursement challenges. From balancing beneficiaries' needs and desires to complying with regulatory frameworks, this guidance ensures prudent decision-making to safeguard trust assets and uphold the trust's objectives effectively. 

Presented by Ben Tiefenback Esq., Counsel and Director of Client Services at Commonwealth Community Trust, this discussion addresses fiduciary responsibilities in trust distribution, distribution policies for fiduciaries, communication and transparency, regulatory compliance, risk management, and tax considerations in trust disbursements. 

Learning Objectives:

1. Identify fiduciary duties and best practices in trust disbursement decision-making
2. Evaluate how disbursement decisions impact government benefit eligibility
3. Compare and apply various distribution standards, such as absolute discretion and ascertainable standards
4. Understand the tax consequences of disbursements from grantor and non-grantor trusts, and their interplay with retirement accounts
5. Develop effective estate planning strategies for challenging distributions and difficult family dynamics