There are many more small trusts than large trusts and they pose special challenges for trust planners and administrators. The fees paid to trustees and to investment professionals, together with ongoing reporting and fiduciary income tax compliance costs, can consume a substantial portion of the trust’s liquid assets or income. There are also the challenges in the types of assets commonly held by small trusts. In other instances, trusts may cease to be practically and financially viable, and may need to be restructured or even terminated. This program will provide you with a practical guide to drafting, structuring and administering small trusts – and what to do when they cease to be viable entities.
• Economics of small trusts – trustee compensation, reimbursement of expenses, investment fees
• Challenges of trust management of operating businesses and real estate
• Restructuring or terminating trusts that are no longer economically viable
• Custodial accounts and other alternatives to small trusts
• Choosing a trustee for a small trust versus a larger trust
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