It’s a Whole New Ballgame – Trust Directors with Powers to Advise/Consent/Direct and With Powers of Protectors
April 28, 2017
Authored by: Kathy Sherby
Kathy Sherby, Partner in the Private Client Services group at Bryan Cave will be giving a speech at the 2017 Kansas City Estate Planning Symposium entitled “It’s a Whole New Ballgame – Trust Directors with Powers to Advise/Consent/Direct and With Powers of Protectors”. This presentation will discuss the various roles lawyers fulfill related to our clients’ trusts – advisor, advocate, amender, approver, consenter, director, enforcer, mediator, remover, tie-breaker and trustee, are among some of the titles. Some of these functions involve the direction of a trustee in carrying out ordinary duties in administration of a trust, such as directing the trustee as to trust investments or discretionary distributions from the trust. Other functions involve decisions that would otherwise be made by courts or what would not easily be made by trustees due to the trustees’ fiduciary duties to beneficiaries. It will examine the issues surrounding the lawyer fulfilling these various functions, and the scope of any duties and other considerations for lawyers prior to agreeing to undertake such functions or roles.