Recorded Webinar: Let Go from the Get Go? Incremental Control Mechanisms in Testamentary Trusts

The desire to rule the family from the grave through a testamentary trust can be overwhelming but can prove a significant impediment with unintended consequences. This session will explore the stepped options for control of testamentary trust decisions and provide guidance on what practitioners need to consider when advising their clients, including:

• Why a testamentary trust can be attractive to controlling will-makers
• Asset inclusion and management considerations
• When is a capital reserved trust appropriate?
• Trustee selection and powers to achieve desired outcomes
• Determining levels of decision-making from specific to discretionary
• Examples of different levels of trust control and consequential outcomes
• Why effective dispute resolution mechanisms are necessary for tightly controlled trusts
• Drafting guidance and techniques
• Lessons from the courts on testamentary trust failings and risks in “controlling from the grave” cases
• Advising clients on getting the balance right in testamentary trusts